Morgan Stanley shifts to a bearish stance on emerging market currencies

<p>Morgan Stanley is warning of declines in emerging markets.</p><p>"We expect more CNH (yuan) weakness, and China macro risks add to existing pressure from weak global growth and EM central bank easing cycles.. We maintain a neutral stance on EM rates and credit."</p><p>The Mexican peso is a laggard today in the emerging market FX world, falling 1% as the US dollar jumps.</p>

This article was written by Adam Button at www.forexlive.com.