📄 Extracted Text (112 words)
provides a better picture when currencies are trading within relatively tight ranges, rather than
trending strongly and breaking new ground (as is the case currently for many EM currencies) due
to domestic factors/factors not captured by the model.
Financial fair value (USD crosses):
5-
EM FX Cheap
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As the charts below show, the extent of undervaluation (i.e. the magnitude of the model residual)
is at ly extremes for TRY and ZAR, but not for RUB.
USDTRY:
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0118196
CONFIDENTIAL SDNY GM_00264380
EFTA01458326
ℹ️ Document Details
SHA-256
2624807ade7554966e432543cb956df3c05d542b5ecdeed868c39805b6faa683
Bates Number
EFTA01458326
Dataset
DataSet-10
Document Type
document
Pages
1
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