Rising commodities prices and interest rates boost currencies in Latin America as the U.S. dollar advances elsewhere
Rising commodities prices and interest rates boost currencies in the region as the U.S. dollar advances elsewhere
The U.S. dollar last year saw its largest increase in value since 2015. That’s good for many American consumers, but it could also put a dent in stocks and the U.S. economy. WSJ's Dion Rabouin explains. Photo illustration: Sebastian Vega/WSJOne place the U.S. dollar hasn’t posted big gains this year: Latin America.
Currencies from Brazil to Uruguay have defied the dollar’s broad strengthening. The Brazilian real has risen around 16% against the dollar, making it the world’s top performer through nearly three months of 2022. The Chilean and Uruguayan pesos are up about 9.4% and 7.4%, respectively, while Mexico’s has gained around 2%.
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