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Brazil's real rose 1.5% on Thursday, recovering after a holiday, supported by record Chinese steel prices that pointed to strong iron ore demand. Most Latin American currencies firmed on a weaker dollar, although new COVID infections held back gains.
Iron ore strength supports Brazil's export earnings and the real, which can make dollar-denominated Brazilian grain and meal exports cheaper for foreign buyers.
brecorder.comReutersApr 22, 2021Not 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.
