# Fed's hawkish tilt has emerging markets scurrying to save currencies

> The Brazilian real fell overnight to a record low, and an initial $3 billion central bank intervention failed to lift it. A second $5 billion intervention triggered a rebound, with the real closing up over 2%.

- Date: 2024-12-19 · published 2024-12-19T12:00:00.000Z
- Category: policy · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/27152-fed-s-hawkish-tilt-has-emerging-markets-scurrying-to-save-currencies
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Intervention-driven swings in the real change the export pricing of Brazilian grains and meal, so buyers face shifting import costs and competitive dynamics.

## Read by commodity

- SBM: neutral
- USDBRL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2024-12-20 | 1 | +2.9% | 3.9 | On Dec 19 the Fed's hawkish tilt hit emerging-market currencies and the Brazilian real swung sharply, so BRL volatility and central bank intervention could shift Brazilian farmer selling and export competitiveness, feeding into meal prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2025-02-21 | [Brazil's central bank has no exchange rate target, says director \| MarketScreener](https://feedsoft.ai/events/26260-brazil-s-central-bank-has-no-exchange-rate-target-says-director-marketscreener.md) | +2.3% | -0.4% |
| USDBRL | 2024-06-07 | [Brazil Soy Prices: Tax Change Seen Making US More Competitive - Bloomberg](https://feedsoft.ai/events/29784-brazil-soy-prices-tax-change-seen-making-us-more-competitive-bloomberg.md) | +2.3% | +3.9% |
| USDBRL | 2025-12-03 | [Analysis: Galípolo moves to contain year-end FX tension](https://feedsoft.ai/events/8059-analysis-galipolo-moves-to-contain-year-end-fx-tension.md) | +1.8% | +2.5% |
| USDBRL | 2024-11-30 | [Brazil Central Bank to ban self-custody stablecoins as BRL collapses against the USD](https://feedsoft.ai/events/27619-brazil-central-bank-to-ban-self-custody-stablecoins-as-brl-collapses-against.md) | +1.3% | +3.4% |
| USDBRL | 2020-06-18 | [Deforestation in Amazon, MEPs call on EU not to be complicit in it \| AGENCE EUROPE](https://feedsoft.ai/events/52640-deforestation-in-amazon-meps-call-on-eu-not-to-be-complicit-in-it-agence-europe.md) | +0.7% | +1.5% |
| SBM | 2022-12-26 | [Soy Crush Plants Give Long-Term Support to Bean Markets](https://feedsoft.ai/events/38281-soy-crush-plants-give-long-term-support-to-bean-markets.md) | +5.7% | +2.5% |
| SBM | 2023-07-25 | [Unpicking the Huge Rally in Oilseed Markets \| CZ app](https://feedsoft.ai/events/11933-unpicking-the-huge-rally-in-oilseed-markets-cz-app.md) | +0.7% | -7.7% |
| SBM | 2022-10-27 | [eFeedLink - A brief analysis of China's fermented feed ingredients market](https://feedsoft.ai/events/39245-efeedlink-a-brief-analysis-of-china-s-fermented-feed-ingredients-market.md) | +3.0% | -1.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/feds-hawkish-tilt-has-emerging-markets-scurrying-save-currencies-2024-12-19/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.