Analysts at TD Securities have revised their FX forecasts for substantially weaker currencies vs USD until at least the end of Q2.
Key quotes
“CNY should be the outperformer, stabilizing around 7.15/7.20 vs USD by the end of Q3.”
“The worst hit over Q2 is likely to be PLN (-8%), followed by ZAR (-6.7 and above 20 vs USD) and HUF (-6.6%).”
“By the end of the year, we expect MXN (-11.7%) and TRY (-9.3%) to be the worst performers. On the contrary, RUB is the likely outperformer (+6.4%).”
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