LONDON—Investment bank JPMorgan turned ‘underweight’ on emerging market (EM) currencies on Friday, warning a slowdown of China’s economic growth, troubles in its property sector, and less supportive global monetary policy were all growing risks.
“EM growth concerns from COVID-19 drags are receding, but risks that China’s growth slowdown, along with property sector drag, will impact EM more broadly have risen,” one of the bank’s analysts said in a note.
