The EM FX rally took a bit of a breather last week as the dollar got some broad-based traction. Risk- off impulses picked up from rising virus numbers and the worsening US economic outlook. Those impulses may continue this week due to heightened fears of violence ahead of the inauguration Wednesday. However, we believe the underlying Blue Wave trades will resume as the income Biden administration focuses on providing more stimulus. Continue reading “EM Preview for the Week Ahead”
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