Brazilian Real At 11-day High Against US Dollar

BRASILIA (Alliance News) – The Brazilian Real firmed against the US dollar in early New York trading on Monday, after the Brazilian Finance Minister told investors that the government’s plan to freeze budget spending for twenty years would remove the uncertainty over the nation’s financial crisis.

“With this kind?.?of tough fiscal policy?.?everyone will be able to project the numbers,” Henrique Meirelles said in an interview with The Financial Times over the weekend.

The Brazilian Real climbed to 3.3758 against the greenback, its strongest since June 9. On the upside, 3.35 is likely seen the next resistance level for the Real. The pair finished last week’s deals at 3.4174.

Copyright RTT News/dpa-AFX

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