Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.437

+5.1%

Jan 30 3:59 PM EST

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To: Art Baeckel who wrote (21178)	7/28/2000 10:59:13 AM
From: Art Baeckel	Read Replies (2) of 22640

OUCH!!!! Getting another haircut this morning. Seeing a lot of red on the screen...... ART Brazil real falls against data-empowered dollar Reuters Company News - July 28, 2000 09:26 Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. SAO PAULO, July 28 (Reuters) - The Brazilian real slipped against the dollar on Friday as the American currency leaped higher on the back of stronger-than-expected U.S. second quarter Gross Domestic Product (GDP) figures. By mid-morning the real was trading at 1.782 to the dollar compared to Thursday's close of 1.780. The dollar hit a two-month high against the yen and extended gains against the euro after the GDP data reawakened U.S. interest rate rise fears. The U.S. Commerce Department said U.S. second quarter GDP rose 5.2 percent, far above the 3.8 percent expected by the market and higher than the revised 4.8 percent in the first quarter. "These figures are much higher than expected from the market perspective and so the dollar has jumped higher," said a trader with a foreign bank in Sao Paulo. The data-fuelled bounce in the dollar put the brakes on the real's two-day winning streak, which saw steady dollar inflows push the Brazilian currency to its highest level since April 20.

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