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Mexican and Colombian currencies fell more than 1% on Tuesday as the rally in crude oil paused and prices eased from recent highs. Expectations of U.S. fiscal spending pushed Treasury yields and the dollar higher, pressuring emerging-market assets.
South Africa's rand also slipped from one-year highs.
Softer oil prices weaken the currencies of crude exporters and reflect a firmer dollar, which can tighten financial conditions for emerging-market importers of feed ingredients. The move is routine FX commentary with limited direct effect on feed commodity prices.
cnbcafrica.comReutersFeb 16, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
