Mixed emerging messages

MARKET NEWS

Trading in emerging markets FX proved a mixed bag last week, says David Mann (right), FX strategist at Standard Chartered Bank in London

This week has seen an encouraging set of news from Asia. In the Philippines, GDP growth was stronger than expected, with encouraging strength seen in the demand for electronics exports. However, domestic private demand was again the main driver of growth, while investment was downwardly revised.

Concerns over the fiscal deficit projections for this year