Nomura's Hafeez Likes Brazilian Real, South African Rand

Which emerging market currency lost half of its value against the dollar in 2018?

• Turkish lira

• Russian ruble

• South African rand

• Argentine peso

What is a potential factor that could help emerging market currencies recover in 2019?

• US recession

• Rising interest rates in emerging markets

• Increased risk aversion

• Complete collapse in global growth

What is a key factor that might make the US dollar less attractive in 2019?

• Increased US yields

• Start of the Fed's hiking cycle

• End of the Fed's hiking cycle

• Stronger global growth

Against which currencies is the US dollar expected to struggle in 2019?

• Argentine peso and Turkish lira

• Euro and yen

• Russian ruble and Indonesian rupiah

• South African rand and Brazilian real

What are the two opposing forces affecting emerging market currencies against the dollar?

• Higher US yields and stronger global growth

• Lower US yields and weaker growth

• Increased risk appetite and US recession

• Stronger euro and yen