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By Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE & Francesco Pesole, FX Strategist
In the current environment, highly vulnerable risk-sensitive currencies may face a further hit due to their low liquidity characteristics. Norway's krone is a case in point while Sweden's krona and the New Zealand dollar may be at risk of giving up some of their relative resilience. In emerging markets, this may mean more trouble for the overexposed rouble.