FXStreet (Edinburgh) – The research team at BBH has evaluated the impact of the recent PBoC move on the rest of the EM currencies.
Key Quotes
“EM currencies are down sharply on the day following the move by Chinese policymakers”.
“The Singapore dollar is down 1.3%, with USD/SGD rising above the 1.40 level for the first time since mid-2010”.
“The Korean won fell 1.3% too, with USD/KRW quickly approaching 2012 highs”.
“TWD also lost 1.3%, as all Asian currencies were lower on the day”.
“The Mexican peso and Russian ruble are down nearly 1%, while the South African rand is down over 0.5%”.
(Market News Provided by FXstreet)