The Brazilian Real drifted lower against the U.S. dollar in early New York trading on Monday, amid speculation of possible intervention by the Central Bank of Brazil to stem the real's appreciation.

The Brazilian currency that ended last week's trading at 3.2351 against the greenback weakened to a 5-day low of 3.2548. On the downside, 3.4 is likely seen as the next support level for the Real.

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