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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
- Even though the ‘easing’ tensions have led to a positive retracement in markets, particularly CEE currencies (which have been very sensitive to the Russia/Ukraine conflict), selling pressure on TRY remains elevated as the uncertainty over the inflation outlook keeps weighing on the economic outlook.
- The TRY has been the worst performing currency among the EM world since the beginning of the month (after RUB), down 6.5% against the US Dollar. The CRBT meets this week and is expecting to keep interest rates unchanged at 14% despite inflation standing at 54.4%.
- KRW has also remained weak this month as the deterioration in Chinese economic activity and the market uncertainty have been weighing on SK risky assets and domestic growth expectations.
- KRW is down nearly 3% against the US Dollar since the start of the month.
- At the top, COP and ‘EM Carry’ ZAR have been the best EM FX performers in March, up 3.1% and 2.1%, respectively, against the greenback.
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.
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