Brazil's Real Opens Stronger Accompanying Euro, Yen Gains
Wed, Nov 25 2009, 11:44 GMT
http://www.djnewswires.com/eu
RIO DE JANEIRO (Dow Jones)--Brazil's real opened stronger Wednesday accompanying the appreciation of the euro against the greenback, which it often tracks, along with other currencies.
The Brazilian real opened at BRL1.725 to the U.S. dollar on the BM&F Bovespa dollar market, stronger than Tuesday's close at BRL1.734.
The dollar weakened in Europe and Japan Wednesday following U.S. government signals suggesting it was comfortable with the greenback's current rate of depreciation.
The euro returned to over the $1.50 level Wednesday morning.
The Brazilian real often shadows the European currency, traders said.
A note from the U.S. Federal Reserve's monetary policy meeting Tuesday reiterated economic stimulus measures would be maintained and described the current rate of depreciation of the dollar as "ordered."
Earlier in the day the Japanese currency also made strong gains and reached a 15-month high against the dollar at less than 74.68 yens per dollar.
-By John Kolodziejski, Dow Jones Newswires; (5521) 2586-6086, john.kolodziejski@dowjones.com
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(END) Dow Jones Newswires
November 25, 2009 06:44 ET (11:44 GMT)
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