High-yield emerging market currencies will probably pare this year's losses...
Goldman Sachs noted the unexpected escalation in the U.S.-China trade conflict recently looks set to reinforce a number of existing trends in global markets, such as a tough environment for emerging market foreign exchange carry trades.
“But policy support appears unlikely in the near term, so for now investors should lean FX risk in a cautious direction,” it continued. The bigger threat to the rest of the world remains the prospect of the U.S.-China trade war tipping the rest of the world into a global recession as trade links are strained by rising protectionist policies.
South Africa will in the next couple of months face some risks of its own from strains over public finances due to managing its ailing economy hit by cash-strapped state power firm Eskom.
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