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Strong RUB Recovery Levitates CEE FX This Month

EM FX
  • The ‘ease’ in geopolitical tensions in the past two weeks has led to a strong recovery in the RUB with USDRUB breaking below the 50DMA in today’s trading sessions.
  • RUB is now the best performing currency among the EM world, up over 3.1% against the US Dollar since the start of the month.
  • PLN remains at the second place despite some zloty weakness following the NBP decision today.
  • PLN is up over 2.6% against the greenback since the start of February.
  • CEE FX overall have had a good run this month as most of them were moderately to significantly impacted by the Russia-relativ tensions.

Source: Bloomberg

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