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Risk Sentiment Improves Boosting CNH & High Beta Plays

LATAM
  • China's health authorities will fast-track the vaccination of the elderly and implement more precise measures to control outbreaks, officials said at a National Health Commission press conference on Tuesday. Pandemic control measures must not be inflexible nor variable at different levels, and must be pertinent to specific needs, officials said. Infections should be treated in a scientific manner and authorities will resolve the reasonable demands of the masses, officials said.
  • The slight downtick in Covid cases amid no escalation in social unrest has seen a strong 1% CNH rally with high beta plays across G10 such as AUD, NZD and NOK leading the moves higher.
  • In similar vein, emerging market currencies are benefitting from the more optimistic backdrop and the softer greenback. In particular, MXN, ZAR and CLP have all risen over 1% on Tuesday.
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