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Argentina's central bank reactivated its crawling peg, allowing the peso to weaken slightly to 353 per dollar after it had been frozen at 350 since mid-August. The currency has been subject to varying capital controls since 2019.
A controlled peso depreciation modestly improves the peso cost of exports, which can encourage farmer selling, but the effect on world feed prices is small.
reuters.comWalter Bianchi, Jorge OtaolaNov 15, 2023Not enough comparable past events yet for a historical read.
After 206 past neutral policy events, SBM moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
