Recent risk-on momentum in the markets has had a 'prominent impact' on emerging market currencies, especially those that are commodity-driven, according to Bank of America Securities' Rohit Garg.
"Our assumption right now is that the U.S.-China trade deal still holds up," the strategist said.
Garg warned that in the event that the trade agreement between the two economic powerhouses comes under threat: "We can't rule out a move towards 7.4."
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