The Dollar Will Gain Against an Alpha-Bit Cereal of EM Currencies
Emerging market currencies remain under selling pressure as Fed liftoff comes back into focus. Between that and lower commodity prices, EM will have trouble finding much traction and so we remain bearish. USD-ZAR and USD-MYR are making new cycle highs today, and we expect USD-BRL, USD-CLP, and USD-COP to do likewise when Latin American markets open.
—Marc Chandler, global head of currency strategy, Brown Brothers Harriman
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