Global stocks declined today on speculations that interest hikes around the world will be delayed, decreasing attractiveness for higher-yielding emergent market currencies like the Brazilian real, which declined from its strongest level in 2009.
Several events declined risk appetite among traders today as the wealthiest nation in the world posted a fall in existing home sales, indicating that the U.S. economic recovery will not be as smooth as previous speculations suggested, raising risk aversion slightly among traders and making the Brazilian currency to drop from a one-year high this Thursday.
USD/BRL traded at 1.8035 as of 21:46 GMT from an opening rate of 1.7855, the highest rate in 2009.
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