RIO DE JANEIRO, BRAZIL - (Reuters) Brazil’s Real (R$) extended its rally in dramatic fashion on Tuesday, June 2nd, taking advantage of improving global market sentiment and demand for riskier assets to chalk up its biggest rise against the US$ in two years.
The Real was one of the worst-performing currencies in the world this year, as markets tanked and the global economic and public health crises deepened, sinking to a record low near R$6 per dollar, but it has clawed back in recent weeks.
It rallied more than three percent on Tuesday, its biggest one-day gain . . .