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To: MythMan who wrote (367313)	5/2/2008 1:19:08 PM
From: Giordano Bruno	Respond to of 436258

youtube.com Dollar Plunges To Multi-Year Low Versus Brazilian Real [USD/BRL] 5/2/2008 1:33:15 PM The dollar was mixed against its Latin American currencies during New York trading on Friday. The dollar surged to a 2-month high against the Chilean peso, but fell to a multi-year low against the Brazilian Real and a 4-day low against the Mexican Peso. According to a report released by the US Department of Labor on Friday, non-farm payroll employment decreased by 20,000 jobs in April following a revised decrease of 81,000 jobs in March. Economists had been expecting a more substantial decrease of about 75,000 jobs. The Fed announced several extraordinary measures to promote improved financial conditions. The Fed increased the term auction facility to $150 billion from $100 billion and increasing the swap line with the European Central Bank to $50 billion from $20 billion. The Fed also increased the swap line with the Swiss National Bank to $12 billion from $6 billion. The dollar fell to a multi-year low against the Brazilian counterpart. At about 11:35 am ET, the greenback fell to a low of 1.6450 against Brazilian Real, compared to yesterday's close of 1.6630. Brazil's central bank said on Friday that it would hold an auction to buy dollars on the spot foreign exchange market as part of an ongoing effort to boost international reserves. The Brazil's central bank has been buying dollars almost daily since October, helping lift Brazil's reserves to about $195 billion. S&P raised Brazil's long-term foreign currency debt rating to BBB- from BB+, which will help the country to be considered as a safe haven for investors and it will open up the flooding of more foreign cash. The greenback soared to a 2-month high against the Chilean peso. At about 11:35 am ET, the greenback moved as high as 466.20 against the Chilean peso, compared to a multi-year low of 429.25 hit on 12th March 2008. Chile is the world's largest copper producer, which provides around a third of the world's copper. Chile's output of the red metal fell 8.4 % in March from a year earlier. Chile produced 459,578 tonnes of the metal in March, the government's National Statistics Institute (INE) said, down from 501,990 tonnes during the same month last year. INE said that the lower copper output was due mainly by lower ore grades at some of the nation's biggest mines accompanied by labor problems. Chile's industrial production fell to 1.0 % in March for the first time since 2006 compared with a year ago, a reverse after 5.7 % growth seen in February, the National Statistics Institute (INE) said on Wednesday. Additionally, Chile's first-quarter jobless rate came in at 7.6 %, up from a 7.3 % rate in the December to February period reported last month by the INE. The workforce increased 3.7 %, as women entered the work force at more than double the rate of men - 5.9 % versus 2.4 % - while new jobs grew 2.8 %. Against the Colombian peso, the dollar held steady near Wednesday's multi-year low of 1761.00. As of 1:30 pm ET, the dollar traded around 1763.00 versus the Colombian peso. The dollar fell to a 4-day low of 10.4434 against the Mexican Peso by about 9:15 am ET, compared to an 18-day high of 10.5510 hit earlier this week. A break below 10.4302 would bring a multi-year low for the dollar. Against the Peruvian Sol, the dollar steadied near Tuesday's 2-month high of 2.8608. As of 1:30 pm ET, the dollar traded at yesterday's close of 2.8156.