Free Trial

Dollar Rebound Prompts Reversal of Gains Across EM FX

EMERGING MARKETS
  • The rebound in the dollar has prompted a reversal of gains for most emerging market currencies. Notably, the Mexican peso has reversed its advance over the past two days with USDMXN now up 0.4% on the session.
  • USDBRL has also reversed course and is now 0.7% up on the day, unwinding around half of yesterday’s losses, while USDCLP is now only marginally lower on the session despite strong gains in copper prices.
  • In CEE, the recovery in the likes of EURHUF and EURPLN has been more moderate, though the latter has now entered positive territory. Familiar technical themes, as we have noted in earlier posts, remain in play.

To read the full story

Close

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.