ABN Amro: investor sentiment remains EM currencies’ Achilles heel

While EMFX valuations are attractive, their good fortune is contingent on other markets

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Georgette Boele: “We think that most EMFX crosses are attractive in terms of valuation”
ABN Amro

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Currently benefiting from the market’s reduced expectation that the US Federal Reserve will stop hiking interest rates and lower treasury yields, the fortunes of emerging market (EM) currencies remain dependent on volatile investor sentiment, says Georgette Boele, a senior FX strategist at ABN Amro.

While concerns about US economic growth may be favouring EM currencies, this is contingent on how investors see

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