This report provides daily commentary on Emerging Market currency pairs, reflecting on central bank policies, inflation data, and capital flow dynamics.
Key Takeaways
- 1.ZAR is expected to outperform as oil prices soften, supporting a short USDZAR position.
- 2.The firm remains long TRY, viewing controlled nominal depreciation as the base case despite monitoring for retail dollarisation.
- 3.Short-term caution advised on HUF due to dovish NBH signals and impending US data.
Table of Contents
- RUB
- ZAR
- TRY
- PLN
- HUF
- CZK
- RON
- ILS
- KZT
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSDZAR
Themes
Central Bank Policy DivergenceEmerging Market FX Volatility
Regions
OtherRussiaSouth AfricaTurkey