Brazilian Real up on rising risk appetite – Chilean Peso reaches record high

11-16-2009 16:27

The Brazilian currency gained this Monday on the back of positive domestic and international figures, as risk seeking increased globally, which resulted in the Brazilian Real posting the best results among the most popular currencies on the Forex market this year. Chile’s Peso rose on the back of rising demand for copper today.

Brazilian Real

Both Brazilian and international equities climbed this Monday as the rise of the Yen exceeded expectations, while most currency analysts believe that next year’s growth of the Brazilian economy will outpace earlier forecasts, pushing the rate of the Real up against the majority of the most popular currencies today.

Chilean Peso

The Chilean Peso posted a 16-month record high against the US Dollar due to increasing demand for Chile’s most important export product, copper, as international economies demonstrated further indications of improvement today.

Risk appetite

Trading markets faced another day of dominating risk seeking today as Japan’s third-quarter growth beat expectations, increasing demand for emergent markets trading positions and driving the Chilean Peso to reach a 16-month record high against the less profitable Greenback, which dropped against the majority of the most popular currencies this Monday.