Brazil’s World-Beating Currency Rally Storms Past Key Level
- Real strenghtens past 5 per dollar for first time since July
- High yields, cheap stocks and commodities boom fuel rally
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The Brazilian real extended its lead as the world’s best performing currency this year as investors look past political risks to focus on the nation’s juicy yields and cheap stocks.
The currency strengthened past the key 5-per dollar level for the first time since July, stretching its year-to-date rally to more than 11.4%. This opens room for further gains toward 4.87 per dollar, the next dollar resistance level watched by most traders.