Battered emerging market currencies will struggle to hold on to recent gains towards year-end as U.S. Federal Reserve interest rate hikes and inflation concerns keep the dollar in the forefront, a Reuters poll found.
Investors had hoped 2022 would be the year when the market recovery from COVID-19 finally got cemented and life started to feel a little more normal. Boy were they wrong..
Currencies of emerging Asian nations have fallen with stocks in recent weeks as Russia’s invasion of its neighbor pushed up commodity prices, threatening the outlook for global growth.
ANKARA: The Turkish lira took a breather on Friday after a historic rally from record lows this week, while emerging markets currencies and stocks were broadly steady in thin trading with Chinese equities hit by a local outbreak of COVID-19.The lira eased to 11.7 per dollar - though after having strengthened to 10.25 on Thursday, its strongest level in over.
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