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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 jun 2018Na 301 eerdere opwaarts macro-gebeurtenissen bewoog Braziliaanse real (BRL per USD) zich mediaan +0,4% over 5 sessies (57% hoger; middelste helft -1,2% tot +1,7%), en +1,0% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
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.
