ECB action spill overs - TDS

FXStreet (Guatemala) - Analysts at TD Securities noted how the ECB’s announcement of a €60bn/month QE programme spilled over into emerging markets and saw EMEA FX underperform while CEE curves flattened.

Key Quotes:

"The biggest mover of the week across all markets was the RUB. USD/RUB fell but only to the bottom of its recent range before retracing today on the back of headlines about increased sanctions and the bombing in Mariupol."

"The 2s5s curve steepened 65bps and Russian CDS widened in contrast to other countries who saw CDS tighten."