Brazil real strengthens

Brazil's real strengthened after a weekend of mass demonstrations refrained from directly targeting President Michel Temer.

The real strengthened 0.5 per cent after sharp a 1.7 per cent decline last week.

Protestors took to the streets in Brazil to rail against corruption and a recent congressional vote seen by many as a move to curtail wide graft investigations.

Investors had feared that the weekend protests would focus on Temer, which would have severely impacted his administration's efforts to rally support for austerity measures. Temper's approval rates remain near record lows.

"Protesters can demonstrate against Congress. As long as they don't demonstrate against the government, the market will remain calm," said Thiago Castellan, a trader with Renascença
brokerage.

Across broader emerging markets, currencies remained calm as investors dismissed the resignation of Italian Prime Minister Matteo Renzi following a referendum defeat regarding constitutional reform.

Read more at Reuters.