Trump’s victory pushes South American currencies down

16.11.2016

After the victory of Donald Trump in the United States, several emerging market currencies have devalued – not only in Mexico. In the case of two major grain producing countries, such as Brazil and Argentina, this was not different. In the case of Brazil, the Dollar jumped from R$ 3.16 early last week to R$ 3.44. In Argentina, the U.S. currency was worth AR$ 15.26 and closed today at AR$ 15.76.

For Don Roose of U.S. Commodities, West Des Moines, Iowa, the current trend is more purchases of corn and soybeans from South America. “China is now shifting buying to South America,” Roose wrote this morning.


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