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The Mexican peso fell about 1% and Brazil's real weakened on Monday after the Turkish lira plunged following the firing of Turkey's central bank chief. Most emerging market currencies weakened as investors sought dollar safety.
Emerging market currency stress raises import costs for Latin American feed buyers and can pressure Brazilian soybean and corn export pricing in dollar terms.
brecorder.comReutersMar 22, 2021Not enough comparable past events yet for a historical read.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% 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.
