2012.05.08 16:05:08 US April Small-Business Optimism Index Rises

1408 GMT [Dow Jones] Emerging-market currencies are likely to stay rangebound, HSBC says, as global and local risks hit emerging markets from either side. To get around this, in Asia, HSBC prefers currencies with robust external surpluses and policy credibility. "We believe that currencies in countries with large balance of payments and fiscal surpluses and where policy credibility is intact--KRW, SGD and MYR--will outperform the rest of the region." In Latin America, where FX intervention is a risk, HSBC likes EPN, MXN and COP. In CEEMEA, the bank keeps its short PLN/HUF position and thinks HUF is an attractive currency. It targets EUR/HUF at 275 for year-end and goes short USD/TRY thanks to Turkey's encouraging commitment to keeping a tight monetary policy.(alexandra.fletcher@dowjones.com) Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com (END) Dow Jones Newswires May 08, 2012 10:08 ET (14:08 GMT)