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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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From: Mike Johnston5/31/2007 1:07:54 PM
   of 110194
 
Too many dollars sloshing around

SAO PAULO (Dow Jones)--The Brazilian real surged to a fresh six-year high in
early afternoon trade Thursday as heavy trade and investment inflows continue
to offset central bank attempts to contain appreciation.

At 1555 GMT, the Brazilian real hit BRL1.9230 to the dollar on the Brazilian
Mercantile and Futures Exchange, sharply stronger from Wednesday's close of
BRL1.9425 on spot contract trading despite disappointing U.S. GDP figures for
the first quarter.
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