Analysts at Brown Brothers Harriman noted the changes in the EM's. Key Quotes: "PBOC appears to have confirmed a somewhat easier monetary stance." "Malaysian Prime Minister Najib is consolidating his grip on power." "Hungarian central bank Vice Governor Nagy hinted at more rate cuts." "Press reports suggest South African Finance Minister Gordhan threatened to resign last week." "Brazil was downgraded to sub-investment grade by Moody's." "Colombia’s central bank tweaked its FX intervention mechanism." For more information, read our latest forex news.