The foreign exchange market is likely to stabilize on Monday after the sell-off in risk assets on Friday on the back of the yield curve inverting in the U.S., says ING. The three-month Treasury yield turned higher than the 10-year last week, prompting investors to worry about the future of the global economy, which then led to a sell-off in emerging market currencies. On Monday, EM currencies stage a recovery against the U.S. dollar, with the Turkish lira leading the way. USD/TRY falls 1.4% to 5.6921. "Although the U.S. yield curve inversion sent shockwaves to markets on Friday, our economists still don't see a U.S. recession either this year or next given the still solid U.S. economy
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