Mind The Carnage In EM Currencies: Peso and Real Tanking, More To Come

Back over 15 / USD for the first time since March 2009, the Mexican Peso is tumbling hard this morning... and the Brazilian Real is also tanking (back near 10-year lows) - no clear catalyst aside from further weakness in oil producer and EM FX sentiment.

 

Peso under pressure

 

Back to March 2009 lows..

 

And the Real is close behind (back near 10 year lows)

 

As Oil Producers FX rates push to new cycle (or record) lows...

 

 

Charts: Bloomberg

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