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The spot dollar fell about 0.95% against the real on Friday to around 5.52 reais after IPCA inflation data slightly exceeded expectations at 0.38% monthly. Investors also responded to a recovery in risk appetite abroad.
Gasoline and airfares were key drivers of the July inflation jump.
Higher-than-expected inflation boosts expectations of Selic hikes, supporting the real and modestly lowering the dollar cost of Brazilian commodity exports such as soybean meal and corn.
en.brasil247.comRedação Brasil 247Aug 9, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
On Aug 9 the dollar fell about 0.95% to roughly 5.52 as risk appetite recovered abroad and the IPCA data reinforced expectations of a hawkish central bank, both supporting BRL.
