Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

We examine the EM FX space for opportunities in the aftermath of the hawkish FOMC meeting last week which led to a sharp rise in the US dollar. Two currencies that have underperformed and stand out as buying opportunities are the Chilean peso (CLP) and the Romanian leu (RON).Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

We examine the EM FX space for opportunities in the aftermath of the hawkish FOMC meeting last week which led to a sharp rise in the US dollar. Two currencies that have underperformed and stand out as buying opportunities are the Chilean peso (CLP) and the Romanian leu (RON).Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: Did the Dollar Spike Create Opportunities in EM FX?

The US dollar has strengthened on the back of the hawkish Fed, hurting Asian currencies across the board but the Singapore dollar (SGD) more so than the Indonesian rupiah (IDR), allowing us to take profit on our Long IDR vs Short SGD trade recommendation.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

The US dollar has strengthened on the back of the hawkish Fed, hurting Asian currencies across the board but the Singapore dollar (SGD) more so than the Indonesian rupiah (IDR), allowing us to take profit on our Long IDR vs Short SGD trade recommendation.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: Take Profit on Long Indonesian Rupiah Vs Short Singapore Dollar Recommendation

While our base case is not one of significant dollar strengthening, we need to be cognizant of the risk. As such, we evaluate which currencies are the most vulnerable if we get a repeat of the Q1 dollar appreciation and EM FX sell-off on the back of higher US Treasury yields.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

While our base case is not one of significant dollar strengthening, we need to be cognizant of the risk. As such, we evaluate which currencies are the most vulnerable if we get a repeat of the Q1 dollar appreciation and EM FX sell-off on the back of higher US Treasury yields.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: Which Currencies Are Most Vulnerable to Dollar Strengthening?

With the market speculating on whether or not there will be hints on tapering when the FOMC decision is announced later today, we decided to update our comparative analysis of the impact on EM currencies during the current reflationary episode with that during the Taper Tantrum of 2013.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

With the market speculating on whether or not there will be hints on tapering when the FOMC decision is announced later today, we decided to update our comparative analysis of the impact on EM currencies during the current reflationary episode with that during the Taper Tantrum of 2013.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: An Update on Taper Tantrum Vs Current Reflationary Scare – Part 1

EM FX volatility has dropped to its lowest level since the start of pandemic, which is likely leading to a positive scenario for currencies. In this note, we highlight the currencies most likely to benefit in such an environment.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

EM FX volatility has dropped to its lowest level since the start of pandemic, which is likely leading to a positive scenario for currencies. In this note, we highlight the currencies most likely to benefit in such an environment.Separately, the attached file is a snapshot of the EM currency market in which we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to an EM currency index.

FX Dashboard: Declining EM FX Volatility Foreshadows a Positive Environment

Taiwan

The New Taiwan dollar is the official currency of Taiwan

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FX Dashboard: Did the Dollar Spike Create Opportunities in EM FX?

We examine the EM FX space for opportunities in the aftermath of the hawkish FOMC meeting last week which led to a sharp rise in the US dollar.

Gautam Jain, PhD, CFA

FX Dashboard: Take Profit on Long Indonesian Rupiah Vs Short Singapore Dollar Recommendation

The US dollar has strengthened on the back of the hawkish Fed, hurting SGD more than IDR, allowing us to take profit on our Long IDR vs Short SGD...

Gautam Jain, PhD, CFA

FX Dashboard: Which Currencies Are Most Vulnerable to Dollar Strengthening?

We evaluate which currencies are the most vulnerable under the risk scenario of a repeat of the Q1 dollar appreciation and EM FX sell-off on the...

Gautam Jain, PhD, CFA

FX Dashboard: An Update on Taper Tantrum Vs Current Reflationary Scare – Part 1

Ahead of the FOMC decision today, we decided to update our comparative analysis of the impact on EM currencies during the current reflationary...

Gautam Jain, PhD, CFA

FX Dashboard: Declining EM FX Volatility Foreshadows a Positive Environment

With EM FX volatility dropping to its lowest level since the start of pandemic, we highlight the currencies most likely to benefit in the likely...

Gautam Jain, PhD, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)