# EMERGING MARKETS-Latam FX heads for best month since May | Kitco News

> Latin American currencies were on track for their best monthly performance since May as the US dollar fell from multi-decade highs. Expectations that the Federal Reserve would slow its rate hikes drove the move, and the IMF raised its 2023 growth estimates for Brazil and Mexico.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/38075-emerging-markets-latam-fx-heads-for-best-month-since-may-kitco-news
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar tends to support commodity prices and make Latin American exports cheaper for foreign buyers, which can modestly support soybean and corn trade flows.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 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) | +0.3% | +0.6% |
| DXY | 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) | +0.3% | -0.4% |
| DXY | 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) | -0.9% | -2.2% |
| DXY | 2026-08-21 | [EMERGING MARKETS-LatAm markets set for weekly gains as softer dollar buoys risk appetite \| Bitget News](https://feedsoft.ai/events/18108-emerging-markets-latam-markets-set-for-weekly-gains-as-softer-dollar-buoys-risk.md) | +0.1% | +1.1% |
| DXY | 2023-12-02 | [Finance, markets: Why the Australian dollar is soaring \| news.com.au — Australia’s leading news site for latest headlines](https://feedsoft.ai/events/32979-finance-markets-why-the-australian-dollar-is-soaring-news-com-au-australia-s.md) | +0.7% | -0.6% |

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-01-31/emerging-markets-latam-fx-heads-best-month-may

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