Most emerging market currencies fell on Friday ahead of key U.S. payrolls data, while Chinese stocks surged after a week-long holiday, even as concerns over a property market debt default persisted.
Most emerging market stocks and currencies rose on Thursday as oil prices retreated from recent highs, although the prospect of U.S. monetary policy tapering and an economic slowdown kept sentiment muted.
Much higher wages alone would probably not clear churning and distorted global labour markets at the moment - and for many workers, they may not even be the primary demand.
Emerging market currencies sank to six-week lows on Wednesday as a spike in oil prices spurred concerns over high inflation and drove investors out of risk-driven assets.