France Gross Domestic Product (YoY) came in at 1.4%, above forecasts (1.3%) in 4Q

Kamakshya Trivedi, Research Analyst at Goldman Sachs, suggests that in the face of a global risk sell-off, concerns around the pace of US activity and a reawakening of dormant systemic worries, EM currencies – typically the risk asset par excellence – regained all their losses and are flat year-to-date, both on a USD and a TWI basis.