Free Trial
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
- As GBP has historically been defined as a ‘risk-on’ currency that depreciates sharply in periods of market shocks (surging VIX), it is interesting to look at the performance of EM currencies relative to the pound to remove the ‘risk-off’ component.
- RUB remains the worst performer among the EM world as geopolitical instability has been weighing on the ruble; RUB is down 3.1% against GBP since the start of the year.
- TRY has also been performing poorly as the ‘dovish’ CBRT, surging inflation and the elevated political and economic uncertainty have been weighing on the Lira. TRY is down 1.4% against GBP this month.
- At the top, CLP is the best performing currency so far, up 7% against the pound. The plunge in political uncertainty combined with the hawkish BCCh (hiked by 150bps yesterday vs. 125bps expected) have been supporting the peso in the past month.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok