Brazilian Real Advances on Cooling Inflation Data
The Brazilian real strengthened against the US dollar on Friday after annual inflation slowed to 4.64% in June from 4.72% in May, missing expectations for a 4.80% reading. Energy and fuel inflation remained high at 7.71% despite easing from May's 8.90%, while monthly consumer prices increased 0.16% after rising 0.58% in the previous month. On the US front, the dollar weakened as Washington and Tehran moved toward renewed talks after two days of retaliatory attacks that reportedly killed at least 14 people. At the time of writing, USD/BRL was trading at 5.1197, down 0.56%.
The Brazilian real strengthened against the US dollar on Friday after annual inflation slowed to 4.64% in June from 4.72% in May, missing expectations for a 4.80% reading.
Energy and fuel inflation remained high at 7.71% despite easing from May's 8.90%, while monthly consumer prices increased 0.16% after rising 0.58% in the previous month.
On the US front, the dollar weakened as Washington and Tehran moved toward renewed talks after two days of retaliatory attacks that reportedly killed at least 14 people.
At the time of writing, USD/BRL was trading at 5.1197, down 0.56%.