Another central bank cut - The.....>

EMERGING MARKETS: Another central bank cut

- The Central Reserve Bank of Peru were the latest to cut rates by 25bps to

2.50%, which came inline with expectations. The accompanying statement was more

dovish, suggesting of one more cut this year.

- PLN sits top of the pile registering modest gains of 0.16%. EURPLN is off its

best levels of the week, targeting a break back under Pln4.3200. Poland's

central bank Governor Glapinski was on the wires earlier noting that he doesn't

rule out monetary easing if the economy slows.

- ZAR sits bottom of the pile with losses of 0.75%. Volumes remain extremely

light with the local holiday today.

- Profit taking in TRY has seen the pair give back light gains. USDTRY down +3%

on the week consolidates above the Try5.50 level with focus on the 200-dma at

Try5.5622.

- Rate decision next week from Mexico with early expectations of a 25bps cut to

8.00%