• CEE FX continue to retrace higher this week following the ‘slight improvement’ in Russia/Ukraine conflict last week.
• HUF is the best performing currency among the EM world so far, up 3.2% against the USD.
• Momentum on CZK and PLN has also been firm, up 1.5% and 1.4%, respectively, against the greenback.
• Latam currencies have been the worst performing currency this week, with BRL standing at the bottom of the table down 1.3% against the dollar.

Source: Bloomberg