Regardless of the external environment, a number of EM currencies will remain shaky in the months to come, including ARS, TRY, RUB, MXN and BRL, according to analysts at Nordea Markets.
Key Quotes
“Another round of adverse shocks to EM FX sentiment could bring new fears to the fore and have more currencies added to the “most vulnerable” list.”
“We are not changing forecasts at this point, but recognise that risks have increased significantly and more weakening could be ahead in this round of EM fears and that the significant sell-off could spread to the slightly less vulnerable EM currencies.”
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