Emerging market currencies like South African rand (ZAR), Turkish lira (TRY) or Polish zloty (PLN) had very turbulent summer as deteriorating global outlook and tensions around China drew capital outflows. However, hopes that Hong Kong protests may cease and US data suggesting that manufacturing is being hurt by the strong dollar leads to a strong recovery today. USDZAR is plunging by 1.4%, followed by USDTRY, USDMXN (both -0.8%) and USDHUF (-0.7%).
💯Daily Summary - Wall Street Close to Records Ahead of Long Weekend
Is Waller echoing Warsh's stance? Keeping rates steady but pressing ahead with balance sheet reduction?
📆Three Markets to Watch Next Week (22.05.2026)
Will Belarus join the war?