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The Brazilian real fell more than 7% against the dollar at the open after newspaper reports about President Temer. Brazilian equities triggered a circuit breaker, and implied volatility on USD/BRL spiked to 24%.
Political turmoil that threatens the reform agenda can push the real lower and make Brazilian soybeans and meal cheaper for overseas buyers.
actionforex.comSwissquote Bank SAMay 19, 2017After 12 past bullish policy events, Brazilian Real (BRL per USD) moved a median +1.5% over 5 sessions (58% higher; middle half -1.1% to +2.0%), and +2.3% over 20.
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.
