Goldman Sachs has marked out the Mexican peso as its top emerging market (EM) currency pick "once the dust settles" from the coronavirus pandemic. In a note Thursday, Goldman strategists suggested that while it may be too early to engage with high-yield EM bets, with risks still prevalent and the dollar on the move, it is not too early to start thinking systematically about opportunities once the crisis subsides. Co-Head of Global Foreign Exchange Kamakshya Trivedi and Head of EM Cross-Asset Research Caesar Maasry, along with a team of strategists, identified the peso as the most attractive among "high cyclical beta, high carry longs." It was closely followed by the South African rand (ZAR) and Russian ruble (RUB).