This report provides a daily update on Emerging Market FX, detailing specific tactical views on RUB, ZAR, TRY, PLN, HUF, CZK, RON, ILS, and KZT.
Key Takeaways
- 1.Remain long TRY despite FX policy framework challenges, anticipating seasonally better current-account dynamics.
- 2.ZAR longs are maintained while staying short G10, as risk sentiment improves.
- 3.Expectation of ILS depreciation as domestic factors like a dovish BOI and FX purchases weigh on the currency.
Table of Contents
- RUB
- ZAR
- TRY
- PLN
- HUF
- CZK
- RON
- ILS
- KZT
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUB
Themes
Carry Trade Sustainability
Regions
EuropeMiddle EastAsia PacificRussiaSouth AfricaTurkey