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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
- Market sentiment has been strongly bullish on the US Dollar amid rising uncertainty and the strong deceleration in liquidity as Fed prepares for tapering.
- To the exception of the Japanese yen, which currently has the highest 3M 25D Risk Reversal in the FX world (+0.13), the options market is pricing in further USD strength in the coming months.
- This chart shows the 3M 25D Risk Reversal for the CEEMEA FX market (positive RR implies USD strength and vice versa).
- The recent 'dovish' CBRT decision to cut its benchmark rate by 200bps to 16% led to some TRY depreciation, currently trading at an all-time low slightly below 9.50.
- 3M 25D RR surged to 6.3 (up from 5.7 yesterday and 5.5 the previous month).
Source: Bloomberg/MNI
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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