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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
- Risk-on currency ZAR continues to trend higher this morning and is now the best performing currency in November among the EM world, up 1.85% against the US Dollar.
- The elevated real interest rates, strong current account surpluses and the positive momentum in risky assets have been the main driver of the rand.
- Hawkish CNB (with central bank hiking by 125bps on Thursday) has been supporting the CZK, which is the second-best performing currency this month, up 1.7% against the USD.
- BRL sits at the third position, up 1.4% against the USD, following the central bank's decision to raise the Selic rate by 150bps to 7.75%, the biggest raise in almost 20 years, to curb the elevated inflationary pressures.
- On the other hand, COP has been the worst performer this month, down 2.7% against USD, partly driven by the consolidation in oil prices.
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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