ING: Interest rate spread trading may trigger a summer rally in emerging market currencies
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ING Groep pointed out that emerging market currencies benefit from the weakening of the US dollar. If the US lowers interest rates, it will attract more funds for carry trades, further boosting emerging market currencies. The report mentioned that high implied yields in markets such as Brazil and Mexico attract investors, while the Turkish lira and South African rand also show high-risk, high-return potential. Although some countries in Eastern Europe face political challenges, the overall trend is positive, and it is expected that most emerging market currencies will appreciate against the US dollar by 2025
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