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Speculative funds raised their net long peso position to 96,000 contracts in the week to July 11, close to a post-pandemic high. Bullish momentum in the Brazilian real is the strongest since April, and both currencies have performed strongly.
Heavy speculative positioning in the real and peso reflects a weaker dollar view that can shift export competitiveness for Brazilian and Mexican origins, though the effect on feed prices is indirect.
reuters.comJamie McGeeverJul 17, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
