Foreign Exchange

FX Quick Notes: EM FX Plunges as Commodity Prices & Risk Mood Collapse

March 19, 2020

The coronavirus pandemic has taken a heavy toll on practically all major currencies with widespread losses against the greenback only sparing the Japanese yen. Nowhere is this more evident than in emerging market currencies, which, on a tradeweighted basis, have lost around 7% of their value against the greenback since the start of the month. The unforgiving slide in equity and commodity markets and extreme uncertainty around the future of global economic growth points to sustained weakness within the EM FX space, with the outlook worsening with each passing day. Download full report

 

 

 

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