What’s the top performing emerging market currency of the past month? While almost every other currency has fallen against the surging US dollar, the Hungarian forint has more than held its ground, strengthening by around 2 per cent since April 30.
That mightn’t sound like much. But, as Societe Generale says in a report on Friday, the HUF is one of only two EM currencies to have posted gains in the past month, along with the renminbi.
For Soc Gen, that’s a sell signal. But for others it’s a tribute to the recent goodish news about the Hungarian economy. Continue reading »
The Thai baht hit a 16-year record on Tuesday, appreciating another 0.8 per cent and falling below 29 to the dollar for the first time since the Asian financial crisis of 1997.
Is the recent spate of bullish expansion announcements from Thailand’s supermarket chains just a bit of retailer one-upmanship, or an indication of serious corporate intentions?
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