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Similar themes, little price.......>

EMERGING MARKETS
EMERGING MARKETS: Similar themes, little price action
-Familiar themes for EMFX so far Wednesday, with modestly positive USD putting
the high beta currencies under pressure. As a result, TRY, RUB and KRW are among
the worst performers, with global risk sentiment still the key driver after the
woeful US ISM Manufacturing reading yesterday.
-The Polish central bank rate decision takes focus Wednesday. Despite a motion
being raised to cut rates at the September meeting, policy is expected
unchanged. Recent MPC comments support this, with Zyzynski most recently stating
he's "ruling out a rate cut now". With growth still firm and inflation at
multi-year highs, MPC members have made it clear that policy changes are
unlikely without either a positive or negative economic shock.
-ZAR traders have bought the currency at the opening of the ANC's economic
review, with calls for increased infrastructure spending and economic reforms to
support the economy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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