Forex - Emerging Europe Closing Summary and Highlights 20 June

 15:11 (GMT) 20 Jun

  [Forex Highlights]

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Emerging Europe Closing Summary and Highlights 20 June (0101-MFXF-C01)


Most Polish government bond yields rose by up to 5bps on Thursday but the zloty appreciated in the aftermath of the Fed's dovish message, outperforming its CEE-3 peers with the EUR/PLN briefly falling to 4.2521.


While most Russian government bond yields decreased by 7-12bps on Thursday, the ruble extended its gains, outperforming other EMEA currencies with the USD/RUB temporarily falling to 62.938 after it broke below the 63.65, 63.38, 63.274, 63.08 and 63.00 support levels. The currency remained driven by higher oil prices after a U.S. military drone was downed by an Iranian missile as well as the broadly softer U.S. dollar.


South African assets benefitted from the Fed's dovish statement on Thursday, with the USD/ZAR briefly falling to 14.1983 and government bond yields decreasing by 4-12bps across the curve.


Turkish assets gained on Thursday, with the USD/TRY temporarily falling to 5.7285 and government bond yields dropping by 75-167bps across the curve. Assets were driven by the U.S. dollar's broad-based depreciation as well as data showing that the consumer confidence index improved to 57.6 in June from a record low of 55.3 in May.

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