HSBC Sees Emerging-Market Currency Rebound as Volatility Abates
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Emerging-market currencies from South Africa’s rand to Turkey’s lira are set to rebound as market volatility decreases, according to David Bloom, global head of currency strategy at HSBC Holdings Plc.
The rand may gain about 7 percent to 10.40 per dollar by Dec. 31, erasing this year’s 5.7 percent decline, Bloom said in an interview with Bloomberg Television in Cape Town. The lira, which has depreciated 3.5 percent this year, is set to rise about 5 percent to 2.10 per dollar, he said.