Extending its 2-day winning streak, the Brazilian real rose to a fresh 13-month high of 1.701 against the US dollar on Thursday morning in Asia. The Brazilian currency is currently worth 1.7035 against the buck and a further rally may push the domestic unit to touch the 1.661 resistance level. The dollar-real pair closed yesterday's deals at 1.703.

In economic news, Brazil's statistical office IBGE announced that the retail sales increased 0.7% month-on-month in August, faster than the 0.5% growth in the previous month. Economists expected an increase of 0.8%.

On an annual basis, retail sales rose 4.7% in August, slower than the 6% increase in the preceding month. Economists were looking for an increase of 5.3%.

US Dollar vs BRL (FX:USDBRL)
Forex Chart
From Jun 2024 to Jul 2024 Click Here for more US Dollar vs BRL Charts.
US Dollar vs BRL (FX:USDBRL)
Forex Chart
From Jul 2023 to Jul 2024 Click Here for more US Dollar vs BRL Charts.