# Emerging market currencies to claw back ground in 2024 as dollar fades: Reuters poll

> A Reuters poll expects emerging market currencies to recover ground in 2024 as the dollar weakens. The Brazilian real and Mexican peso have gained about 8% and 11% respectively this year, and some central banks have started cutting rates. The peso is forecast to lose about 4.5% and the real just over 2% over the next 12 months.

- Date: 2023-11-08 · published 2023-11-08T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/33378-emerging-market-currencies-to-claw-back-ground-in-2024-as-dollar-fades-reuters
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A forecast weaker real over the next year would make Brazilian export origin cheaper in dollar terms, supporting Brazilian soy and corn competitiveness against US supply.

## Read by commodity

- USDBRL: bearish ▼
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-04-08 | [No peace for emerging market currencies as mighty US dollar reigns: Poll- Moneycontrol.com](https://feedsoft.ai/events/42145-no-peace-for-emerging-market-currencies-as-mighty-us-dollar-reigns-poll.md) | +0.3% | +3.1% |
| DXY | 2018-10-04 | [Soaring US dollar threatens trouble for emerging markets \| Currencies \| The Guardian](https://feedsoft.ai/events/62719-soaring-us-dollar-threatens-trouble-for-emerging-markets-currencies-the-guardian.md) | +0.2% | +1.5% |
| DXY | 2018-08-13 | [Broad basket of currencies losing ground against dollar](https://feedsoft.ai/events/9470-broad-basket-of-currencies-losing-ground-against-dollar.md) | +0.2% | +0.3% |
| DXY | 2023-03-20 | [EMERGING MARKETS-Latam currencies rise against soft dollar \| Kitco News](https://feedsoft.ai/events/37068-emerging-markets-latam-currencies-rise-against-soft-dollar-kitco-news.md) | -0.9% | -2.2% |
| DXY | 2021-01-08 | [Treasury Yield Surge Rattles Emerging-Market Currencies in Asia - Infobae](https://feedsoft.ai/events/49393-treasury-yield-surge-rattles-emerging-market-currencies-in-asia-infobae.md) | -0.1% | +0.7% |
| USDBRL | 2018-09-06 | [Emerging market currencies due a bounce after crazy August: Reuters poll](https://feedsoft.ai/events/63262-emerging-market-currencies-due-a-bounce-after-crazy-august-reuters-poll.md) | -0.5% | -6.7% |
| USDBRL | 2022-05-26 | [Emerging-markets currencies stay strong despite dollar’s rise](https://feedsoft.ai/events/41608-emerging-markets-currencies-stay-strong-despite-dollar-s-rise.md) | -1.5% | +8.0% |
| USDBRL | 2023-03-20 | [EMERGING MARKETS-Latam currencies rise against soft dollar \| Kitco News](https://feedsoft.ai/events/37068-emerging-markets-latam-currencies-rise-against-soft-dollar-kitco-news.md) | -0.6% | -6.5% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/emerging-market-currencies-claw-back-ground-2024-dollar-fades-2023-11-08/

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