The Brazilian real rose 0.21% to 4.9 per USD, reaching its strongest level in 11 weeks. This move is driven by the reopening of the Strait of Hormuz, a major breakthrough that has sparked global optimism and caused the US dollar to drop (DXY -0.29%). The currency has extended its sharp downward trend seen since late March, as the fall in the dollar effectively offsets the pressure from an 12% collapse in oil prices. As war fears fade and global markets look for a strong finish to the week, the real continues to recover, heading back toward the levels seen in early February.