Free Trial

USD Bid Driving EM FX Weakness

EM FX

The dollar bid is underpinning the weakness in EM FX this morning. The Russian ruble and Turkish lira are underperforming slightly. USDRUB has traded up to 72.40 from 72.1 at yesterday's close, while USDTRY has edged up to 8.73 from 8.69. Russia, in particular, is under increasing pressure as Covid cases surge, forcing the government to introduce new social restrictions. Although the Sputnik vaccine is freely available, the relatively low take-up has undermined efforts to curb infection.

To read the full story

Close

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.