Emerging Market FX faced significant volatility as geopolitical headlines regarding the US-Iran conflict triggered risk-off flows. Despite the broader sell-off, some desks are looking to buy dips in select pairs like USD and TRY.
Key Takeaways
- 1.Geopolitical tensions regarding the US-Iran conflict have caused increased market volatility and a shift toward risk-off sentiment in Emerging Market FX.
- 2.Central bank policy remains a key focus, with the NBP leaving rates unchanged at 3.75% and the NBR also remaining steady.
Table of Contents
- RUB
- ZAR
- TRY
- PLN
- HUF
- CZK
- RON
- ILS
- KZT
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Authors
Laoise Ni Thighearnaigh
Securities
USDRUBUSDZARUSD/TRYEUR/PLNEURHUF
Themes
Carry TradesCentral Bank PolicyGeopolitical Risk
Regions
EuropeMiddle EastAsia PacificRussiaSouth AfricaTurkey