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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
- Momentum has been strong on CEEMEA currencies in May, to the exception of the TRY, which keeps reaching new record lows against the US Dollar.
- Best performer this month is the ZAR, up 5.2%, quickly followed by the HUF, up 4.9% against the greenback following NBH deputy governor Virag's 'hawkish' comments that Hungary should prepare for rate hikes in the coming months.
- The rise in inflationary pressures in Poland has also increased the probability of an early hike by the NBP and therefore has been supporting the PLN, which is up 3.1% this month, following a 4.1% appreciation in April.
- The RUB has also been gradually appreciating this month, up 2.6% against the USD and slowly approaching its ST support at 72.66.
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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