5 Min Read
BENGALURU/JOHANNESBURG (Reuters) - Battered emerging market currencies will only pare some of their recent steep losses over the coming year, according to analysts polled by Reuters who said a sell-off was likely in the next three months with rising U.S. yields posing a big risk.
FILE PHOTO: Brazilian Real and U.S. dollar notes are pictured at a currency exchange office in Rio de Janeiro, Brazil, in this September 10, 2015 photo illustration. REUTERS/Ricardo Moraes
Having strengthened over 3% in 2020, an index of emerging market currencies erased nearly half of those gains in the last three months as reflation bets spurred by massive U.S. fiscal stimulus drove the dollar index to a four-month high.
5 Min Read
BENGALURU/JOHANNESBURG (Reuters) - Battered emerging market currencies will only pare some of their recent steep losses over the coming year, according to analysts polled by Reuters who said a sell-off was likely in the next three months with rising U.S. yields posing a big risk.
FILE PHOTO: Brazilian Real and U.S. dollar notes are pictured at a currency exchange office in Rio de Janeiro, Brazil, in this September 10, 2015 photo illustration. REUTERS/Ricardo Moraes
Having strengthened over 3% in 2020, an index of emerging market currencies erased nearly half of those gains in the last three months as reflation bets spurred by massive U.S. fiscal stimulus drove the dollar index to a four-month high.
BENGALURU/JOHANNESBURG Battered emerging market currencies will only pare some of their recent steep losses over the coming year, according to analysts…
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BENGALURU, Jan 8 (Reuters) - Most emerging market currencies will continue last year’s rally against a tumbling dollar into 2021 as a thirst for higher yield and hopes for a successful coronavirus vaccine rollout helps drive gains, a Reuters poll showed.
A steep selloff in the dollar, which posted its largest annual loss since 2017 last year, helped a wider index of emerging market currencies gain more than 11% from March’s three-year low - a trend set to continue this year.