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Brazil's antitrust body CADE signed five cease-and-desist agreements with Barclays, Citicorp, Deutsche Bank, HSBC and JP Morgan over alleged cartel conduct in the offshore foreign exchange market, involving the real. The agreements total BRL 183.5 million in payments, and CADE also opened a new cartel probe in the Brazilian exchange market.
The enforcement action concerns FX market conduct and has little direct effect on physical feed supply or demand. Any impact on the real would be indirect and minor for feed buyers.
gov.brDec 9, 2016After 36 past policy events, Brazilian Real (BRL per USD) moved a median -0.5% over 5 sessions (44% higher; middle half -2.8% to +1.6%), and -0.3% 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.
