Brazil real falls more than 2 pct on risk aversion

Mon Feb 2, 2009 7:38am EST
SAO PAULO, Feb 2 (Reuters) - Brazil's currency, the real, slumped more than 2 percent on Monday as global economic concerns scared investors away from riskier emerging market assets such as the real.
The real BRBY fell about 2.3 percent to 2.368 against the U.S. dollar, which gained against a basket of other major currencies .DXY.
Concerns about the financial system were fueled by a cut to Barclays' (BARC.L) long-term ratings by Moody's credit ratings agency, while European shares .FTEU3 also fell sharply. (Reporting by Ana Nicolaci da Costa; Editing by James Dalgleish)