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Brazil's real surged 3% on Friday through the 5.00 per dollar level for the first time since late March. The move extended a rally that followed stronger-than-expected US employment data.
The currency was on track for a large weekly gain.
A stronger real lowers the local-currency cost of dollar-priced imports such as feed ingredients and fertilizer for Brazilian buyers. It may also trim the competitiveness advantage of Brazilian soy and corn exports.
reuters.comJun 5, 2020Not enough comparable past events yet for a historical read.
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.
The real broke through 5.00 per dollar on June 5 and gained about 7% on the week, which directly accounts for most of the 5-day BRL/USD decline (real appreciation) ending June 8.
