The US dollar is seen trading strong against the Brazilian real today despite its broader weakness in the global market. In fact, the US dollar is seen dropping to its 2-day lows just today. So, why does the US dollar to Brazilian real exchange rate continues to rise? The answer is simple. Investors are really alarmed by the number of coronavirus cases and deaths in the Latin powerhouse. This is driving the demand for safe-haven currencies such as the US dollar by local traders. The risk sentiment in the market has been fluctuating the past sessions, now it was reported that China’s coronavirus vaccine is showing impressive signs. CanSino Biologics reportedly developed the vaccine and the Chinese military recently received the approval to use it. The clinical trials of the said drugs found that it was safe to use, and it showed efficacy to the patients. China currently has eight candidates for the coronavirus race which still has a long way to go.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.