Forex - Emerging Europe Closing Summary and Highlights 15 Apr


 15:26 (GMT) 15 Apr

  [Forex Highlights]

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Emerging Europe Closing Summary and Highlights 15 Apr (0101-KRJD-C01)

POLAND

Most Polish government bond yields decreased by 2-4bps on Monday and the zloty continued to strengthen, with the EUR/PLN temporarily falling to 4.2718. Assets continued to be driven by better global sentiment in the aftermath of the better-than-expected China's March money and credit data and amid positive news regarding the U.S.-China trade negotiations.

RUSSIA

While most Russian government bonds were generally stable on Monday, the ruble extended its gains with the USD/RUB briefly falling to 64.1795 after it broke below the 64.20 support level. The currency remained supported by the improvement in risk appetite and was helped by the beginning of the monthly tax payment period, with social tax remittances leaving the system.

SOUTH AFRICA

Most South African government bonds were generally stable on Monday but the rand depreciated a bit, with the USD/ZAR temporarily rising to 14.03.

TURKEY

While Turkish 2-3 year government bond yields rose by 4-14bps on Monday, the lira continued to weaken, still underperforming other EMEA currencies with the USD/TRY briefly climbing to 5.8187. Assets were not helped by data showing that the unemployment rate rose to a near-10-year high of 14.7% in December-February from 13.5% in November-January, a tad above the consensus forecast of 14.6%.


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