Wednesday, September 26, 2007

Brazil Market Hits Record & Benefits from Weak Dollar

From ETF Trends:

iShares MSCI Brazil Index (EWZ) has been popular with many investors. Currently, it's up 51.2% year-to-date. Brazil's stock market had a record closing yesterday. In addition, Brazil's currency, the real, gained 0.21% to 1.867 per U.S. dollar, Reuters reports. Analysts expect the long-term trend for the real to remain strong as long as investors are anxious about the U.S. housing sector. The real has appreciated 14.4% this year, reports Guillermo Parra-Bernal for Bloomberg.

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