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The Brazilian real rose 1.4% on Monday, reaching its strongest level in nearly two weeks, after the central bank sold $800 million of currency swaps to roll over contracts expiring next month. The central bank holds about $17.7 billion of swaps and plans to keep selling daily until month-end to fully roll over $6.4 billion.
The currency was supported despite North Korea tensions and pension reform uncertainty.
A firmer real makes Brazilian soybeans, meal, corn and other exports more expensive in dollar terms, which can modestly weigh on Brazilian export prices and support competing origins.
finance.yahoo.comReutersApr 17, 2017After 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.
