Flash: Knock on mild on EM's, suppotred on better China? - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said, "Although the Ukrainian and Russian currencies are under pressure, the knock-on to other emerging markets has been mild at best. The MSCI Emerging equity index was up 0.1%, perhaps helped in part by the fragile stabilization of the Chinese yuan, whose weakness in recent days has caused some consternation."

Key Quotes

"Although the Ukrainian and Russian currencies are under pressure, the knock-on to other emerging markets has been mild at best. The MSCI Emerging equity index is up 0.1%, perhaps helped in part by the fragile stabilization of the Chinese yuan, whose weakness in recent days has caused some consternation."


"Yesterday was the first in eight sessions that the US dollar did not rise above the previous day's high against the yuan. At the same time, though, it did not push through the lows either. The PBOC drained another CNY60 bln from the banking system (via 14-day repos) to bring the total amount