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Brazil's real rose more than 3% on Tuesday, its biggest one-day gain since June 2018, trading at a seven-week high near 5.20 per dollar. The currency had been among the world's worst performers after hitting a record low near 6.00 per dollar.
The rally followed improving global market sentiment and demand for riskier assets.
The currency rebound lowers the local cost of dollar-priced feed and fertilizer imports into Brazil. Gains like this are driven mainly by risk sentiment, so they can reverse quickly.
investing.comJun 2, 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's 3% one-day surge on June 2, its largest in two years, was driven by improved global risk sentiment and fell inside the 5-day window, contributing materially to the move.
