The Brazilian Real drifted higher against the U.S. dollar in early New York trading on Monday, as commodities rallied on expectations that Fed may delay June rate hike, in the aftermath of dismal jobs report.

The Brazilian Real advanced to near a 3-week high of 3.5052 versus the greenback, compared to Friday's closing value of 3.5238. The Brazilian currency may locate resistance around the 3.4 mark.

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