One of the most liquid Emerging Market currency crosses, $USDBRL, is advancing for an eight straight trading session through Thursday. This is the longest unbroken bull run for the exchange rate since September 2014.
It's impressive that it is advancing in today's session given the Dollar is under pressure of its own, but it seems general risk aversion is the stronger force.
A retreat in emerging markets can definitely be a risk response, but perhaps there is more persistence to the belief that central banks will normalize regardless of a little market turbulence than previously believed.
It's impressive that it is advancing in today's session given the Dollar is under pressure of its own, but it seems general risk aversion is the stronger force.
A retreat in emerging markets can definitely be a risk response, but perhaps there is more persistence to the belief that central banks will normalize regardless of a little market turbulence than previously believed.