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Brazil's real rose 0.4% and was set for its biggest weekly gain among major Latam currencies, while most other Latin American currencies weakened as U.S. Treasury yields rose on reports of a $6 trillion US budget. Peru's sol stayed near all-time lows ahead of a polarized presidential runoff, and Mexico's peso was supported by falling oil prices.
A stronger real lowers the BRL cost of dollar-priced commodities, which can encourage Brazilian export selling of soy, corn and meal and modestly weigh on US futures. Rising US yields and a firmer dollar tend to pressure emerging-market currencies, so the move is a short-term background factor rather than a supply shift.
financialpost.comReutersMay 27, 2021After 213 past bearish macro events, USDBRL 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.
