Loading…
Latin American currencies weakened against the dollar on Monday, with Brazil's real falling 0.8 percent and underperforming regional peers. The drop came ahead of pension reform proposals expected to be presented to Congress later that week.
Investor doubts over Congress passing pension reform raise the risk of a credit rating downgrade and weaken the real, which makes Brazilian exports cheaper for foreign buyers and can add to pressure on soy and corn export prices.
pensionpolicyinternational.comFeb 19, 2019After 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.
