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Brazil's real rose 0.2% on June 22 after central bank minutes showed a 100 basis point hike could come at the next meeting, which would be the fourth straight increase. Most Latin American currencies fell against a rallying dollar, and copper weighed on Chile's peso.
Expected tighter Brazilian monetary policy supports the real and can slow domestic inflation and demand. For feed buyers the currency effect on Brazilian grain export pricing is the main channel, and it is limited.
brecorder.comReutersJun 22, 2021After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
