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Brazil's real rose almost 1% on 22 May after central bank minutes were read as hawkish, and the bank said inflation expectations had become unanchored to the upside. The central bank had unexpectedly held the Selic rate at 6.50% the previous week.
Commodity strength also lifted other Latin American currencies, with Chile's peso rising about 1.3% alongside higher copper prices.
A firmer real makes Brazilian export origin more expensive in dollar terms, which modestly supports world soybean and corn prices. The move is a routine currency rebound and has limited lasting effect on feed supply.
cnbc.comReutersMay 22, 2018Not 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.
On 22 May the real rose almost 1% as the central bank's hawkish minutes and higher commodity prices boosted sentiment, which added to the dollar's decline against the real.
