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Brazil's real rose after minutes from the central bank's March 16-17 meeting showed policymakers were ready to raise rates by another 75 basis points in May. The real was supported even as most emerging market currencies fell against a firm dollar.
Higher Brazilian rates and a firmer real can slightly reduce the export competitiveness of Brazilian soy and corn, a modest factor for global feed grain prices.
financialpost.comReutersMar 23, 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.
