Brazil's President Rousseff loses crucial impeachment vote in Congress

Headlines crossing the wires via Reuters noted that the Brazilian President Dilma Rousseff lost an impeachment vote in the lower house of Congress.

Key Points:

The Senate votes on it next

If the Senate confirms the impeachment, Rousseff would be suspended, replaced by Vice President Michel Temer as acting president pending her trial

Meanwhile, the Brazilian real is seen extending gains versus the US dollar, with USD/BRL now hovering near fresh eight-month lows reached at 3.4567 last week, down -0.50% on the day.