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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
- Demand for the US Dollar has been rising this week ahead of the Fed meeting with some participants preparing for the Fed to announce an acceleration of the current pace of tapering at 15bn USD / month.
- DXY index has been trending higher, currently testing the 96.60 resistance; next key level to watch on the topside stands at 97, which was the high reached on November 24.
- TRY remains the most vulnerable currency among the EM world, down 5.9% against the USD since the start of the week. The elevated political uncertainty combined with the dovish CBRT have been weighing on the lira.
- Latam currencies – COP, BRL and MXN – have also performed poorly since Monday, down 2%, 1.8% and 1.6%, respectively, against the greenback.
- On the other hand, the IDR and THB are the best performing currencies among the EM world, up 0.3% and 0.2% against the dollar.
Source: Bloomberg
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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