# USD/BRL continues to grind back towards monthly highs in the upper 5.80s — Octa

> USD/BRL rallied from around 5.50 to 5.75 the previous week and reached the 5.80s on Monday. Analysts cited higher US bond yields and concerns over a Brazilian government shutdown tied to an unfeasible budget.

- Date: 2021-03-30 · published 2021-03-30T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/48306-usd-brl-continues-to-grind-back-towards-monthly-highs-in-the-upper-5-80s-octa
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker real tends to make Brazilian soybean and corn exports more competitive, which can weigh on world feed grain prices, while fiscal concerns add volatility to the currency.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2017-06-29 | [USD/BRL: upward pressure during next months - Danske Bank — Octa](https://feedsoft.ai/events/70711-usd-brl-upward-pressure-during-next-months-danske-bank-octa.md) | +0.2% | -4.4% |
| USDBRL | 2020-04-24 | [USD/BRL surges to fresh record highs above 5.70 after Justice Minister Moro resigns - Forex Crunch](https://feedsoft.ai/events/8725-usd-brl-surges-to-fresh-record-highs-above-5-70-after-justice-minister-moro.md) | -0.4% | +2.7% |
| USDBRL | 2021-02-23 | [USD/BRL: Brazilian real set to depreciate modestly versus the dollar over the next year – Capital Economics — Octa](https://feedsoft.ai/events/48849-usd-brl-brazilian-real-set-to-depreciate-modestly-versus-the-dollar-over-the.md) | +1.7% | +1.0% |
| USDBRL | 2023-06-29 | [USD/BRL: Real to suffer if BCB postpones rate cuts due to ongoing criticism of the government – Commerzbank — Octa](https://feedsoft.ai/events/35696-usd-brl-real-to-suffer-if-bcb-postpones-rate-cuts-due-to-ongoing-criticism-of.md) | +1.7% | -2.6% |
| USDBRL | 2017-04-17 | [USD/BRL: An overvalued currency – Lloyds Bank — Octa](https://feedsoft.ai/events/71707-usd-brl-an-overvalued-currency-lloyds-bank-octa.md) | +0.1% | -0.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/891716/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.