Guest post: which EMs are vulnerable to US dollar strength? – beyondbrics - Blogs - FT.com:
"It has been in easy in recent weeks to get carried away with big emerging markets (EM) currency movements. A range of them – including the Russian rouble, Turkish lira, Polish zloty, South African rand and Brazilian real – have hit their lowest point this year against the US dollar.
But this is mostly about the dollar’s recovery, the broader US recovery and assumptions that the US Federal Reserve is way ahead of the European Central Bank (ECB) in terms of policy normalisation. Indeed, the ECB seems still to be going the other way, loosening monetary policy; the Euro also appears to be on a hiding to nothing.
So who will be the winners and losers from the dollar’s recent ascent?"
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