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Colombia's peso jumped as much as 1.6% on Monday, the biggest gain among major emerging-market currencies, to its highest level since August. The move followed political turmoil around President Petro, whose government is struggling to contain fallout from the scandal.
The peso is now the best-performing developing-nation currency this year.
The rally reflects investors seeing less risk to Petro's reform program, which lifts the currency. The impact on feed commodity prices is minimal, though it can change import costs for Colombian feed buyers.
bloomberg.comDavison Santana, Oscar MedinaJun 5, 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.
