By Luciana Magalhaes SAO PAULO--Brazil´s real opened slightly stronger against the dollar Monday, but investors remained cautious ahead of key U.S. employment data due later this week that could help drive a decision on the Federal Reserve´s bond-buying program. The real was trading at BRL2.2423 to the dollar Monday morning after exiting regular trading at BRL2.2548 to the dollar, according to Tullett Prebon via Factset. Investors are expecting the release of third-quarter growth statistics and key October nonfarm-payrolls reports in the U.S. later this week. "The currency market is on waiting mode, very concerned about what is going to happen in the U.S.," said Reginaldo Galhardo, a foreign exchange manager at Brazil´s brokerage Treviso Corretora. In recent weeks, many investors had expected the Federal Reserve wouldn't reduce its $85 billion monthly bond-buying program until 2014, given the moderate pace of the economic growth. But upbeat manufacturing releases last week raised some concerns that the central bank could cut back on its stimulus efforts as early as December. The Fed's latest interest-rate statement last showed the central bank didn't downgrade its economic outlook despite the 16-day partial government shutdown last month. The U.S. central bank has said that the timing to scale back its monetary stimulus depends on economic releases going forward.

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