# EMERGING MARKETS-Latam FX come off multi-year highs as dollar firms | Kitco News

> Latin American currencies came off multi-year highs on Thursday as the dollar firmed after falling to a nine-month low the previous day. The Brazilian real rose after the central bank said it might hold interest rates at a six-year high for longer than expected. The MSCI Latin American currencies index was up 0.6%, after touching its highest level since April 2018 earlier in the session.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/37616-emerging-markets-latam-fx-come-off-multi-year-highs-as-dollar-firms-kitco-news
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar and central bank rate policy shape Brazilian real movements, which affect the competitiveness of Brazilian soybean and corn exports and therefore global feed grain prices. The move is a modest signal for export pricing.

## Read by commodity

- DXY: bullish ▲
- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-02-13 | [EMERGING MARKETS-Brazilian real leads Latam FX higher as dollar slips \| Kitco News](https://feedsoft.ai/events/37527-emerging-markets-brazilian-real-leads-latam-fx-higher-as-dollar-slips-kitco-news.md) | -1.4% | -0.3% |
| USDBRL | 2023-03-20 | [EMERGING MARKETS-Latam currencies rise against soft dollar \| Kitco News](https://feedsoft.ai/events/37068-emerging-markets-latam-currencies-rise-against-soft-dollar-kitco-news.md) | -0.6% | -6.5% |
| USDBRL | 2023-03-31 | [EMERGING MARKETS-Latam FX up for tenth straight session, poised for strongest quarter in a year \| Kitco News](https://feedsoft.ai/events/37169-emerging-markets-latam-fx-up-for-tenth-straight-session-poised-for-strongest.md) | -1.1% | -2.1% |
| USDBRL | 2023-04-13 | [EMERGING MARKETS-Peru's sol rises before c.bank decision, Latam FX up for third day \| Kitco News](https://feedsoft.ai/events/36696-emerging-markets-peru-and-apos-s-sol-rises-before-c-bank-decision-latam-fx-up.md) | +2.3% | +0.4% |
| USDBRL | 2017-11-06 | [U.S. Dollar Slides Against Emerging Markets on Low Yields - WSJ](https://feedsoft.ai/events/68183-u-s-dollar-slides-against-emerging-markets-on-low-yields-wsj.md) | -0.4% | -2.2% |
| DXY | 2023-04-17 | [EMERGING MARKETS-Peru's sol outpaces Latam FX, firm dollar caps gains \| Kitco News](https://feedsoft.ai/events/36695-emerging-markets-peru-and-apos-s-sol-outpaces-latam-fx-firm-dollar-caps-gains.md) | +0.4% | +0.4% |
| DXY | 2023-02-06 | [EMERGING MARKETS-Thai baht faces worst day in 23 years as strong dollar pressures Asia FX \| Kitco News](https://feedsoft.ai/events/37585-emerging-markets-thai-baht-faces-worst-day-in-23-years-as-strong-dollar.md) | +0.5% | +0.8% |
| DXY | 2020-08-24 | [EMERGING MARKETS-Recovery fears hit South Korea's won as U.S. dollar firms](https://feedsoft.ai/events/51853-emerging-markets-recovery-fears-hit-south-korea-s-won-as-u-s-dollar-firms.md) | -1.0% | -0.6% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-02-02/emerging-markets-latam-fx-come-multi-year-highs-dollar-firms

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