By Bruno Federowski SAO PAULO, Nov 25 Brazil's currency and stocks fell on Friday on concerns that fiscal reforms could be derailed by a potential investigation into whether President Michel Temer pressured an ex-minister to allegedly favor a cabinet colleague's property investment. The real slipped as much as 2.2 percent to 3.4679 reais but later pared back losses to 1.1 percent. The benchmark Bovespa stock index fell 0.7 percent. Brazil's public prosecutor is looking into whether to investigate Temer after a former culture minister told federal police Temer had urged him to favor another Cabinet member who was seeking a permit for an apartment building in a historic preservation area. Traders fear the investigations could make it harder for Temer's administration to gather support for tough austerity measures including a congressional amendment curbing growth of public spending. Brazilian stock market losses were limited by a rise in shares of miner Vale SA as prices of China-listed iron ore futures extended their recent rally. Other Latin American markets were little changed in thin trading the day after the U.S. Thanksgiving holiday. Many global investors were away from their desks as North American markets were scheduled to close early on Friday. Emerging market assets that had suffered following Donald Trump's unexpected presidential victory, such as the Indian rupee and the Mexican peso, rebounded on Friday. Key Latin American stock indexes and currencies at 1345 GMT: Stock indexes daily % YTD % change change Latest MSCI Emerging Markets 854.52 0.29 7.29 MSCI LatAm 2275.66 -1.02 25.65 Brazil Bovespa 60963.32 -0.7 40.63 Chile IPSA 4203.23 0.16 14.21 Chile IGPA 20985.77 0.15 15.61 Venezuela IBC 27524.89 0.68 88.68 Currencies daily % YTD % change change Latest Brazil real 3.4327 -1.14 14.98 Mexico peso 20.6535 0.46 -16.58 Chile peso 677.3 -0.04 4.78 Colombia peso 3163.38 0.02 0.19 Peru sol 3.41 0.06 0.12 Argentina peso (interbank) 15.5400 0.00 -16.46 Argentina peso (parallel) 15.98 -0.19 -10.70 (Editing by Daniel Flynn and Jeffrey Benkoe)
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