The Brazilian real strengthened on Monday as an emerging market selloff triggered by US President-elect Donald Trump's unexpected victory lost more steam. The real firmed 0.9 percent, extending gains to 2.5 percent in four sessions after touching a five-month low on November 14. Other Latin American currencies, such as the Mexican peso, also rose.
The rebound allowed Brazil's central bank to reduce its currency intervention following two weeks of heavy action. Brazil's benchmark Bovespa stock index rose 1 percent, supported by a gain in shares of state-controlled lender Banco do Brasil SA.
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