EM FX has a bit further to fall; some pockets of greater concern

With global economic growth weakening and risk sentiment unlikely to rebound sustainably this year in our view, we think that EM currencies generally will remain under pressure over the next several months and that there are a handful of countries where there is a growing risk of larger currency falls. In view of the wider interest, we are also sending this FX Markets Update to clients of our Emerging Markets Overview Service.