Latin American Currencies Strengthen Against Dollar Monday Morning, Monday, July 02, 2007 10:27:01 AM
Latin American currencies strengthened against the American dollar Monday morning in New York. The Mexican peso and Brazilian real both climbed versus their American counterpart. Greenback traders considered the release of June U.S. ISM manufacturing data, which came in ahead of expectations.The Mexican peso advanced against the greenback Monday morning in New York. The Mexican currency gained ground during the early-to-mid-morning, reaching an intraday high of 10.7612 at 7:00 am ET. The peso lost some of its gains over the next three hours, trading at a mark of 10.7714 at 10:00 am. This is compared to an intraday low of 10.7990 at 1:20 am.
The Brazilian real climbed sharply against the American dollar Monday morning in New York. After a morning mostly dominated by uncertain trading, the Brazilian currency began to advance at 8 am ET. At 10:07 am ET, the real reached a mark of 1.9155 against its American counterpart. This is compared to an intraday low near 1.9320 around 12:30 am. Traders looked ahead to Monday morning`s release of the Brazilian trade balance for June.
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posted by Kalin Tasev @ 8:13 AM
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