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BTG Pactual economist Iana Ferrão's study says the Brazilian real's 2026 moves are driven mainly by domestic factors rather than global peer currencies, unlike 2025. The real has depreciated since mid-May, which the bank attributes predominantly to local developments.
A currency driven by local politics and fiscal concerns is more volatile for Brazilian exporters of feed inputs; a weaker real tends to support Brazilian soy, corn and meal export competitiveness and firm dollar prices for importers.
valorinternational.globo.comArthur CagliariJun 11, 2026After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
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.
