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Brazil's real kept falling despite the central bank selling an extra $2 billion of foreign-exchange swaps, its second intervention above the usual daily offer that week. The currency fell as much as 2.4% on a third day of declines and traded at its weakest level since 2016.
Brazilian stocks also fell sharply.
Persistent real weakness lowers the dollar cost of Brazilian soy and corn exports, supporting Brazilian selling and pressuring global feed prices. Failed intervention signals the currency may stay under pressure.
bloomberg.comJulia Leite7 juin 2018Après 301 événements macro haussier passés, Réal brésilien (BRL par USD) a varié en médiane de +0,4 % sur 5 séances (57 % de hausses ; moitié centrale de -1,2 % à +1,7 %), et de +1,0 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
Real fell as much as 2.4% to its weakest since 2016 despite extra central bank swap sales, showing strong selling pressure (currency/sentiment) within the window.
Continued real free fall on June 7 despite extra central bank swap offers shows intensifying selling pressure and sentiment-driven depreciation feeding into the multi-day move.
