Emerging market currencies gained ground against a weaker dollar while stocks hit a two-week low, still feeling the impact of last week’s Federal Reserve meeting.
Ukrainian dollar-bonds soared after the country moved to privatise its biggest lender.
MSCI’s emerging market index weakened 0.3% in its fourth straight day in the red with many Asian bourses racking up losses of 1% or more.
Emerging assets have been hit in recent days by the prospect of US rates rising faster than expected and a stronger dollar, driven by expectations that US President-elect Donald Trump’s planned fiscal spending and tax cuts will fuel economic growth and …read more
Source: Gulf times
