Emerging market stocks rallied on Thursday with the dollar taking a hit on growing bets of an imminent end to the U.S. rate-hiking cycle, while Pakistan dollar bonds jumped after the International Monetary Fund cleared a $3 billion bailout.
Most emerging markets' currencies and stocks gained on Wednesday against a weak dollar, with traders awaiting a crucial U.S. inflation reading to determine whether the Federal reserve is at the end of its rate hike cycle.