Everything else is headed back to preCOVID levels, it looks to me like Brazilian Real is doing the same. In this particular case, it's bullish.
The currency is headed up because oil is headed up and Brazil produces more oil than Iran. (#8 in the world)
Just posting this because I plotted it out for myself. EWZ is not currency hedged which means the currency impact influences price, and this is bullish for EWZ
The currency is headed up because oil is headed up and Brazil produces more oil than Iran. (#8 in the world)
Just posting this because I plotted it out for myself. EWZ is not currency hedged which means the currency impact influences price, and this is bullish for EWZ