Forex - Emerging Europe Closing Summary and Highlights 9-13 Sep


 15:14 (GMT) 13 Sep

  [Forex Highlights]

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Emerging Europe Closing Summary and Highlights 9-13 Sep (0101-PFWQ-C01)

Last week, most EMEA currencies continued to benefit from the improvement in risk appetite after U.S. President Donald Trump delayed the 5pp increase in tariffs on Chinese goods by two weeks and said that he would consider an interim trade agreement with China while the ECB delivered more stimulus than expected in aggregate by markets. The ruble outperformed after Trump dismissed hawkish national security adviser John Bolton and head of the CBR's monetary policy department Alexei Zabotkin said that there was no reason to expect softer monetary policy by the Bank. We expect the currency to continue to outperform in the coming week due to the start of the monthly tax payment period on Monday.


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