The Brazilian currency extended last week's uptrend against the US dollar in New York deals on Monday. The real, which closed Friday's New York session at 1.8655 against the greenback, soared to a new multi-month high of 1.8290 by about 2:20 pm ET. Presently, the pair is worth 1.8350.

The statistics agency IBGE said toady, Brazil's industrial production for the month of June dropped 10.9 percent from previous 11.3 percent.

The U.S. Commerce Department revealed that construction spending rose 0.3 percent in June. This followed a revised 0.8 percent slide in May. Private construction slipped 0.1 percent, though residential construction spending was up 0.5 percent. The report showed that public construction spending was up 1.0 percent.

The US Institute for Supply Management said in a report that its index of activity in the manufacturing sector rose to 48.9 in July from 44.8 in June, although a reading below 50 indicates a contraction. Economists had been expecting a more modest increase to a reading of 46.5.

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