[Dow Jones] Reduce exposure to economies with unsound balances and unsound economic policy, such as Iceland and Hungary, says Lars Christensen at Danske Bank. Says there's a lack of understanding among market players of the seriousness of the problems in high-yield markets with large imbalances.
"The market should focus on quality, and the recent fall is a reminder." Doesn't see much scope for the ISK recovering this year, while the Hungarian forint could regain somewhat short-term if the central bank lifts rates Monday. (CAP)
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