Accessible version 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Liquid Cross Border Flows • EM FX: Our flows turned constructive in EMEA (TRY, ZAR, HUF) and LatAm (BRL) amid carry-seeking flows and Ukraine peace hopes Meaningful EURUSD supply at month-end EURUSD supply was our flows' main highlight last week (Exhibit 1, Exhibit 8). It was driven by corporates (month-end flows), Hedge Funds, and Officials. But investor flows' divergence continued, with Asset Managers selling USD vs EUR and LatAm (Exhibit 2). We remain mediu ...