# LATAM FX Talking: FX gains as risk appetite solidifies | reports | ING THINK

> ING's LATAM FX outlook turns bullish on regional currencies into year-end, citing a weaker US dollar and better commodity prices. It sees the most appreciation potential for the Brazilian real and the Colombian peso in 2021. ING also flags fiscal weakness and political risk in Brazil, Chile and Peru.

- Date: 2020-12-04 · published 2020-12-04T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/49854-latam-fx-talking-fx-gains-as-risk-appetite-solidifies-reports-ing-think
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Colombian Peso (COP per USD)](https://feedsoft.ai/c/USDCOP.md)

## Why it matters

A weaker dollar and firmer Latin American currencies would make South American exports cheaper in dollar terms and could support soy and corn export pricing. The outlook is a forecast rather than a new shock.

## Read by commodity

- USDBRL: bearish ▼
- USDCOP: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-02-16 | [Latam FX Talking: Rethinking the real \| ING THINK](https://feedsoft.ai/events/31876-latam-fx-talking-rethinking-the-real-ing-think.md) | +0.0% | +0.4% |
| USDBRL | 2025-09-15 | [Latam FX Talking: Carry trade remains the dominant theme \| articles \| ING THINK](https://feedsoft.ai/events/23090-latam-fx-talking-carry-trade-remains-the-dominant-theme-articles-ing-think.md) | -0.5% | +2.4% |
| USDBRL | 2024-07-10 | [Latam FX Talking: Making the most of a short-lived rebound \| articles \| ING THINK](https://feedsoft.ai/events/9456-latam-fx-talking-making-the-most-of-a-short-lived-rebound-articles-ing-think.md) | +0.5% | +3.9% |
| USDBRL | 2019-06-17 | [FX Talking: The beginning of the end of the dollar’s rally \| reports \| ING THINK](https://feedsoft.ai/events/9810-fx-talking-the-beginning-of-the-end-of-the-dollar-s-rally-reports-ing-think.md) | -1.9% | -3.7% |
| USDBRL | 2023-08-14 | [Latam FX Talking: Full steam ahead with easing cycles \| articles \| ING THINK](https://feedsoft.ai/events/34790-latam-fx-talking-full-steam-ahead-with-easing-cycles-articles-ing-think.md) | +1.4% | +0.8% |

## Sources

- think.ing.com: https://think.ing.com/reports/latam-fx-talking-fx-gains-as-risk-appetite-solidifies/

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