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Emerging Market FX Looks Vulnerable As Commodity Plunge, Virus Worries, Idiosyncratic Risks Are Noxious Mix
I'm not going to spend a ton of time on this Friday, but it's worth mentioning that the combination of plunging commodities, rate cuts and a negative macro catalyst with the potential to seriously undermine global growth is weighing heavily on emerging market FX.
As ever, it's difficult to disentangle idiosyncratic, country-specific narratives in EM from the broader macro story, but a big picture take is simply that the coronavirus epidemic threatens to short-circuit the nascent global growth r
H-Man, when the press acknowledges the virus is a pandemic, hang on to your shorts. No pun intended.