◂ Event Timeline

Jun 13, 2018MACROBrazil

Brazil watchdog fines Morgan Stanley, Royal Bank of Canada for forex manipulation

Brazil's antitrust watchdog fined Morgan Stanley and Royal Bank of Canada for allegedly colluding to manipulate bid-ask spreads on offshore spot transactions in the Brazilian real. The fines were announced on Wednesday.

The excerpt is incomplete.

WHY IT MATTERS

The case concerns market conduct in the real's offshore spot market and has little direct effect on feed commodity supply, demand or prices.

AFFECTSBrazilian Real (BRL per USD)

SOURCE
reuters.comJun 13, 2018

Price reaction & history

Brazilian Real (BRL per USD)no directional readSO FAR1d +1.0%5d +1.5%20d +5.1%

After 621 past macro events, Brazilian Real (BRL per USD) moved a median +0.2% over 5 sessions (53% higher; middle half -1.3% to +1.4%), and +0.6% over 20.

Jul 13, 2018Brazil: BRL now seems more aligned with global market moves - Rabobank - Forex Crunch+0.9%
Jun 9, 2020Brazil central bank watching FX, commodities impact on inflation | 1330 & 101.5 WHBL+6.6%
Aug 30, 2024Brazil Real Swings on Fiscal Woes, Central Bank Interventions-0.8%
Feb 3, 2025Trump's tariffs raise fears Brazil's central bank is out of step on inflation-0.9%
Sep 26, 2022Brazil makes first FX intervention of the year - Central Banking+3.1%

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.

Brazilian Real (BRL per USD) USDBRL · GP ▸

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