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Argentines are increasingly hedging against devaluation as IMF negotiations stall ahead of the presidential election. The black-market peso hit a record 527 per dollar, and the central bank is intervening in the bond market.
Devaluation expectations can encourage farmers to hold grain for a better exchange rate or sell faster once rates shift, making Argentine export flows less predictable for feed buyers.
bloomberg.comIgnacio Olivera DollJul 19, 2023Not 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.
