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"Strong weakening of the Argentine peso, the Turkish lira or both could contribute to a decline in currencies outside the United States"Ian Tomb, the London-based badyst of the bank, wrote in a report released Thursday.
The peso and the lira are the worst performers in emerging markets this year, with a devaluation of more than 10%.
Tomb added that for most currencies, the sensitivity to weight is higher than in the case of the read and his study shows that the Argentine currency it appears that it will have a greater impact on the performance of high-yielding emerging market equities.
The Colombian peso, the South African rand, the Chilean peso and the Russian ruble are considered the currencies most exposed to a weakening of the two currencies, while the Brazilian real and the Mexican peso are more exposed to the Argentine peso.
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