Brazil real weakens 1 pct as Monday's rally seen exaggerated

RIO DE JANEIRO, July 16 Tue Jul 16, 2013 12:23pm EDT

RIO DE JANEIRO, July 16 (Reuters) - Brazil's currency weakened 1 percent on Tuesday after enjoying in the previous session its biggest one-day gain in over a year, a rally that traders later considered exaggerated.

The real last traded at 2.2469 per dollar, or down 1.03 percent, after closing nearly 2 percent stronger on Monday.

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