Morgan Stanley shifts to a bearish stance on emerging market currencies | Forexlive
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Morgan Stanley is warning of declines in emerging markets.
“We expect more CNH (yuan) weakness, and China macro risks add to existing pressure from weak global growth and EM central bank easing cycles.. We maintain a neutral stance on EM rates and credit.”
The Mexican peso is a laggard today in the emerging market FX world, falling 1% as the US dollar jumps.