The market is reacting positively to a peace agreement between the U.S. and Iran regarding the Strait of Hormuz. Analysts are re-evaluating EM FX positions in light of this de-escalation and the upcoming Federal Reserve meeting.
Key Takeaways
- 1.U.S.-Iran peace agreement and reopening of the Strait of Hormuz supports risk sentiment and EM FX.
- 2.Market focus has shifted toward the upcoming Fed meeting and the potential influence of Warsh's first meeting.
- 3.Ongoing long positions maintained in TRY and HUF amid positive carry prospects and de-escalation.
Table of Contents
- EM FX Daily Report
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSDZAREURHUF
Themes
Geopolitical De-escalationCentral Bank Policy
Regions
OtherUnited StatesIranTurkey