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The Brazilian real rose almost 1% against the dollar on Thursday after falling over 2% the previous day. An Ibope poll showed far-right congressman Jair Bolsonaro leading presidential voting intentions at 17%, with the left failing to gain momentum.
A Supreme Court ruling that privatizations need congressional approval had weighed on the currency on Wednesday.
A firmer real lowers the cost of dollar-denominated imports such as feed ingredients for Brazilian buyers, while a weaker real tends to support Brazilian export prices for soybeans, corn and meal.
en.mercopress.comJun 29, 2018After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
