The dollar closed at R$5.6507 on the prior session, with markets unhappy with the government's fiscal measures for next year. US Treasury yields rose, raising expectations of a larger Federal Reserve rate hike.
Several Fed officials were scheduled to speak on the day.
Rising US rates and a stronger dollar tend to weaken the real, which raises the cost of Brazilian feed exports priced in dollars and can shift export and crush margins.
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.