Against its US counterpart, the Brazilian real traded higher during New York deals on Friday. At about 2:35 pm ET, the real climbed to 1.8625 versus the greenback, which may be compared to yesterday's closing value of 1.8810. This set a new multi-month high for the Brazilian currency. Currently, the real is trading at 1.8660 versus buck.

The U.S. Commerce Department revealed today that Gross Domestic Product, a closely-watched measure of broad economic performance fell at a pace of 1 percent for the second quarter. Economists had expected GDP to fall at a 1.5 percent pace.

The report released by the Institute for Supply Management - Chicago said its index of activity in the manufacturing sector rose to 43.4 in July from 39.9 in June, with a reading below 50 indicating a contraction in the sector. Economists had been expecting the index to come in at 43.0.

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