# Latam FX hit as US credit downgrade bruises mood, dollar pops

> Latin American currencies and stocks fell after the United States' credit downgrade lifted the dollar, with the MSCI Latam stock index losing 2.2%. Colombia's peso dropped 1.2% to a two-week low on weaker crude prices, and Cuba's informal peso hit an all-time low.

- Date: 2023-08-02 · published 2023-08-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/34791-latam-fx-hit-as-us-credit-downgrade-bruises-mood-dollar-pops
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger dollar and weaker Latin currencies can lower the dollar cost of Latin American grain and oilseed exports, while falling crude weighs on biofuel-linked feedstock values.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-14 | [Latam FX falls as dollar rises, Peru's sol bucks trend \| Reuters](https://feedsoft.ai/events/36693-latam-fx-falls-as-dollar-rises-peru-s-sol-bucks-trend-reuters.md) | +0.6% | +0.5% |
| DXY | 2022-01-27 | [Strong dollar hits Latam FX, Russian assets rise \| Financial Post](https://feedsoft.ai/events/43348-strong-dollar-hits-latam-fx-russian-assets-rise-financial-post.md) | +0.1% | +0.7% |
| DXY | 2018-10-22 | [US dollar rises as pound falls amid Brexit negotiations](https://feedsoft.ai/events/62807-us-dollar-rises-as-pound-falls-amid-brexit-negotiations.md) | +0.5% | +1.0% |
| DXY | 2023-02-15 | [Latam FX slides as dollar firms, Colombian peso hits near six-week low - Financial Post](https://feedsoft.ai/events/37628-latam-fx-slides-as-dollar-firms-colombian-peso-hits-near-six-week-low-financial.md) | +0.8% | +1.8% |
| DXY | 2025-06-17 | [Dollar trades higher after mixed US data, but Mideast conflict keeps mood tense](https://feedsoft.ai/events/24464-dollar-trades-higher-after-mixed-us-data-but-mideast-conflict-keeps-mood-tense.md) | +0.2% | +0.2% |
| WTI | 2024-08-05 | [Dollar down as US rate cut bets rise, yen surges](https://feedsoft.ai/events/7431-dollar-down-as-us-rate-cut-bets-rise-yen-surges.md) | +4.4% | -0.4% |
| WTI | 2020-02-28 | [Baht gains more ground, as US dollar weakens](https://feedsoft.ai/events/54839-baht-gains-more-ground-as-us-dollar-weakens.md) | -2.6% | -61.0% |
| WTI | 2023-05-30 | [Canadian dollar dips as oil prices fall more than 4%](https://feedsoft.ai/events/36186-canadian-dollar-dips-as-oil-prices-fall-more-than-4.md) | -0.4% | -6.6% |

## Sources

- reuters.com: https://www.reuters.com/article/emerging-markets-latam/emerging-markets-latam-fx-hit-as-us-credit-downgrade-bruises-mood-dollar-pops-idUSL1N39J1PT/

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