The dollar turned higher against the real on Thursday after trading mostly lower in the morning, reaching R$5.4765, up 0.47%. Investors weighed the central bank’s decision to keep the Selic at 13.75% alongside uncertainty over the next government’s economic team and fiscal policy; Lula called a meeting with economic advisers and was expected to address budget discipline.
Political and fiscal uncertainty can weaken the real, raising the local-currency cost of imported feed and other dollar-priced commodities. The currency move was modest and did not signal a change in physical commodity supply.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% 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.