The Brazilian Real erased its recent losses against the U.S. dollar in European deals on Monday, as demand for emerging market assets improved after upbeat factory activity data in Europe and Asia.

The Brazilian Real climbed to 3.2372 against the greenback, off its early 4-day low of 3.2626. On the upside, 3.0 is possibly seen as the next resistance level for the real.

US Dollar vs BRL (FX:USDBRL)
Forex Chart
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US Dollar vs BRL (FX:USDBRL)
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