By Petr Krpata, Chief EMEA FX and IR Strategist and Francesco Pesole, FX Strategist
The collapse in oil prices has severely punished high beta oil-exporting FX globally. In the G10, the Norwegian krone is particularly vulnerable. The Canadian dollar is also exposed versus the outperforming yen, franc and euro. In emerging markets, the Colombian peso and Russian rouble look most vulnerable, while CEE FX should be the relative outperformer.
The sharp drop in oil prices and resulting grim outlook for crude in the months to come (see "The OPEC+ break-up") sent shockwaves throughout