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EM Currencies as Fed Rate Hike Expectations Recede on Soft CPI

EMERGING MARKETS

USD/EM coming under immediate pressure on that CPI print, with some particular outperformance noted in ZAR and CNH.

  • USD/ZAR breaking through to fresh multi-month lows and below the early October support at 17.5709.
  • 17.4454 (late Sept low) and 17.4629 vol-band support are the next levels to watch
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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