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CEE Currencies Consolidate This Month, While Trend on RUB Continues

EM FX
  • CEE currencies have been consolidating this month against the USD after strong performance in April and May.
  • Traders may start to take profits, especially on PLN following Glapinksi 'dovish' press conference today.
  • On the other hand, momentum RUB remains firm with the currency up nearly 2% against the US Dollar since the tart of the month.
  • TRY is the second best performer this month among the CEEMEA currencies, up 1.5% against the greenback.

Source: Bloomberg/MNI

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