February 2017 Analysis

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Market Strategy - MXN Top Pick Among EM FX - 20 FEB 2017

We think the dollar has likely topped out in broad trade-weighted terms, particularly when measured in total returns, but we do not expect a bear market to ensue. We remain fundamentally bearish on the the yuan, which is one of the main components of the USD's trade-weighted index. Weakness in the currency is likely to resume in the near term. That said, we continue to see EM FX excluding the...

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