Trade idea: take-profit on BRL, TRY, ZAR basket

Since my original trade idea post (here) in late July and update (here) on the “Troubled Three”, their currencies have weakened further against the dollar. BRL went through my target a little while ago, and while TRY and ZAR a a little off their lows, they are also around my target range. I am starting to think we might see a meaningful policy response soon, and¬†therefore am taking the opportunity to take profit on the basket. The PnL on the trade is just under 12% after adjusting for the negative carry.

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