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Brazil's real has rallied as high domestic interest rates and strong commodity export prices fueled a carry trade, with returns of 24% since late December. The article describes the currency's performance and investor flows.
Strong real appreciation makes Brazilian commodity exports more expensive in dollar terms, which can cap export demand and support dollar prices for soy and meal.
bloomberg.comAline OyamadaApr 5, 2022Not 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.
