Loading…
Colombia's peso rose as much as 1.6% on Monday, the strongest gain among major emerging-market currencies, reaching its highest level since August. The rally came as President Gustavo Petro faced a scandal after a former ambassador and campaign chief threatened to reveal how the 2022 campaign was funded.
Lower House leader David Racero also said reform discussions would pause until the ruling coalition is rebuilt.
Markets read the political turmoil as reducing the risk that Petro's reform agenda passes, which strengthens the peso. For feed buyers this has little direct effect on grain or meal prices, though a stronger peso lowers the local cost of imported feed inputs.
bloomberglinea.comDavison Santana, Oscar MedinaJun 6, 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.
