Despite the 35% surge in oil prices this year, some of the EM currencies traditionally regarded as “petro-currencies” have hardly risen. That is not all that surprising – the influence of oil prices on them is often overstated. Our view that most EM currencies will weaken against the dollar later in 2019 has much more to do with the prospects for the global economy than the oil market specifically.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.