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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EM FX
- The USD has been broadly stronger this week against EM currencies as hawkish Fed keeps supporting the ‘safe’ asset.
- Worst performing currency remains the TRY as dovish CBRT and elevated political uncertainty keep weighing on the Lira. The central bank decided to cut its policy rate by 100bps to 14% despite inflation standing above 20%, pushing the Lira to an all-time low against the dollar.
- COP has also been performing poorly against the USD despite the recent recovery in oil prices; COP is the second weakest performer this month down 1.7% against the dollar.
- Political conflict with the EU has also been weighing on HUF and PLN, down 0.6% against the greenback.
- At the top, EM carry MXN and ‘risk-on’ ZAR are the two best-performing currencies among the EM world this week, up 0.8% and 0.7%, respectively, against the US Dollar.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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