13 března 2009

13/3 Emerging markets much stronger today

Emerging Markets opening up stronger this morning and continuing to firm in the first hours trading, buoyed by stocks and increased risk appetite. USDZAR trading definitively through 10.00 and opening up the possibility of a move to 9.80 , USDTRY and USDRUB all under pressure. CE3 region has done particularly well in light of the unprecedented CHF intervention in yesterday’s session, EUR/PLN trades through the 50day moving average at 4.4850 last trading 4.46 with all locals on the offer, and HUF and CZK also firming significantly.

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