“Fear of floating” is alive and well among EM central banks says Global Head of Sovereigns, James McCormack, in his latest Global Perspectives commentary. — The recent strength of the US dollar, which is up about 3.5% in nominal effective terms since late January following a two-year depreciation, is causing investors to re-evaluate their emerging market (EM) exposures. Comparisons with the 1982 Mexican crisis and the 1997 Asian crisis are alarmist and overdone, but faith…