The Brazilian real traded lower around 5.34 against the greenback, moving away from a near one-week high touched in the previous session after data showed the country’s jobless rate jumped to a fresh record high of 14.6% in the third quarter of the year as the coronavirus pandemic hit the labour market. The currency was also pressured by persistent domestic fiscal concerns and news that AstraZeneca is being forced to conduct an additional trial of its Covid-19 vaccine following questions about its efficacy.
Historically, the Brazilian Real reached an all time high of 770.43 in September of 2020. Brazilian Real - data, forecasts, historical chart - was last updated on November of 2020.
The Brazilian Real is expected to trade at 5.40 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.57 in 12 months time.