# Chilean peso rallies off record lows, Mexican peso slumps 1% | Financial Post

> The Chilean peso rallied about 1% off record lows as copper prices rose after China halved its COVID-19 quarantine period for overseas visitors. The Mexican peso slumped 1% and Brazil's real fell 0.6% as the dollar strengthened, and Brazil cut its 2022 growth forecast to 2%.

- Date: 2022-06-28 · published 2022-06-28T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/41165-chilean-peso-rallies-off-record-lows-mexican-peso-slumps-1-financial-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Currency weakness in Mexico and Brazil raises import costs for feed buyers in those markets, while the Brazilian growth downgrade and fiscal concerns add to real volatility that can affect Brazilian export pricing.

## Read by commodity

- USDBRL: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-06-07 | [Brazilian real hits 2-week low, Chilean peso slips before rate move \| Financial Post](https://feedsoft.ai/events/41152-brazilian-real-hits-2-week-low-chilean-peso-slips-before-rate-move-financial.md) | +6.3% | +13.7% |
| USDBRL | 2023-01-19 | [Mexican peso leads LatAm FX lower as recession fears grow - Financial Post](https://feedsoft.ai/events/37997-mexican-peso-leads-latam-fx-lower-as-recession-fears-grow-financial-post.md) | -0.8% | +1.7% |
| USDBRL | 2020-11-11 | [Brazil's real, Mexican peso hit by tepid economic data \| Financial Post](https://feedsoft.ai/events/50377-brazil-s-real-mexican-peso-hit-by-tepid-economic-data-financial-post.md) | -1.2% | -5.9% |
| USDBRL | 2023-05-31 | [Brazil's real leads fall in Latam FX, Chile's peso down as copper output drops \| Financial Post](https://feedsoft.ai/events/36145-brazil-s-real-leads-fall-in-latam-fx-chile-s-peso-down-as-copper-output-drops.md) | -3.0% | -4.3% |
| USDBRL | 2024-06-26 | [Currencies from Mexico, Brazil Lead Emerging Peers Lower \| Financial Post](https://feedsoft.ai/events/29991-currencies-from-mexico-brazil-lead-emerging-peers-lower-financial-post.md) | +4.4% | +3.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/chilean-peso-rallies-off-record-lows-mexican-peso-slumps-1

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