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Latin American currencies slipped as Brazil's real gave up session gains against a steady dollar amid rising COVID-19 cases in the region. Brazilian lawmakers discussed extending pandemic relief payments, and the real remained negative for the year.
A softer real on fiscal and pandemic worries can marginally favor Brazilian export competitiveness for soy and corn, but the move is modest and driven by currency sentiment rather than crop supply.
reuters.comAmbar WarrickFeb 3, 2021After 301 past bullish macro events, USDBRL 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.
