FX: Little To Like Out There

After holding up reasonably well in the first half of November, Latin America's benchmark currencies have started to look pretty dicey again versus the US dollar. Risk aversion is still weighing on the asset class, with global investors unwilling to bet heavily in favour of the region's currencies in the current volatile climate. Meanwhile, the gradual emergence of structural weaknesses also suggests a more subdued Latin FX performance as we enter 2009.

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