Brazilian real makes gains

Brazil's currency rallied for the second straight day on Friday on robust economic figures.
Brazil's currency, the real, closed 0.97 percent stronger at 3.092 per greenback.
"This movement (in the real) was in reaction to Brazilian bonds traded overseas, which had risen on yesterday's economic growth numbers," said Jorge Kattar, head of the derivatives desk at Rabobank in Sao Paulo.
The real gained momentum on Thursday following first-quarter economic growth figures, which were higher than expected. The currency has been on a nearly uninterrupted upward path after hitting a 13-month low on May 20.
However, the approaching long holiday weekend for US and London markets contributed to volatility in the stock market, which lost ground after rising earlier in the session. "With overseas markets losing steam ahead of the long weekend, there was little strength left here too," said Daniel Doll Lemos, an investment analyst at Socopa brokerage in Sao Paulo.