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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21273)	8/8/2000 1:15:17 PM
From: Art Baeckel	Respond to of 22640

Brazil real slips against dollar on scant interest Reuters Company News - August 08, 2000 12:34 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. Jump to first matched term SAO PAULO, Aug 8 (Reuters) - Brazil's real lost ground against the dollar in early afternoon trading Tuesday amid scant appetite for Brazilian assets, traders said. The real weakened to 1.800 reais per dollar, off just 0.2 percent from 1.797 reais at Monday's close. The slide accompanied a drop in Brazilian equities, with the benchmark Bovespa index falling 0.3 percent. Traders said there was no specific reason for the currency's slip. "It's difficult to know why it's (the real) weakening ... there is nothing so far to justify this," said one trader at a foreign bank. The real slipped even after economic data released in the United States indicated the economy was growing without signs of rising inflation. That diminishes the chances of an increase in U.S. interest rates. Higher U.S. rates can sap capital from emerging markets like Brazil. The U.S. government reported nonfarm productivity rose 5.3 percent in the second quarter.