Brazilian Real, Mexican Peso Hit Session Lows as Oil, US Yields Rise; Fed Decision Awaited

The dynamic here is familiar: higher US yields and oil prices tighten conditions for emerging-market currencies, and the Fed statement is the pivot markets are positioning around. What matters is whether this is a Fed-driven repricing or a broader risk-off signal — the two carry different implications for how long LatAm FX stays under pressure. The open question is whether the real and peso recover once the Fed decision clears, or whether the move reflects something more durable about carry appetite.