Post by mangomoney on Mar 21, 2016 13:58:52 GMT 7
Emerging-Market Currencies Fall Back to Earth After Fed Euphoria
- Dollar rebounds for second day, pushing down commodity prices
- Developing stocks decline after entering bull market on Friday
Emerging-market currencies retreated Monday after their best three-week gain since 1998 raised concern the rally went too far, too fast.
Malaysia’s ringgit fell from a seven-month high as a drop in Brent crude worsened the outlook for the oil exporter. Currencies from nations dependent on raw materials weakened, including South Africa’s rand and Mexico’s peso. China cut the yuan fixing by the most in three months, while South Korea’s won retreated from the strongest level since December as a technical indicator suggested it’s been overbought against the dollar. The MSCI Emerging Markets Index of stocks declined after entering a bull market Friday.
more...
www.bloomberg.com/news/articles/2016-03-21/emerging-market-currencies-fall-back-to-earth-after-fed-euphoria
- Dollar rebounds for second day, pushing down commodity prices
- Developing stocks decline after entering bull market on Friday
Emerging-market currencies retreated Monday after their best three-week gain since 1998 raised concern the rally went too far, too fast.
Malaysia’s ringgit fell from a seven-month high as a drop in Brent crude worsened the outlook for the oil exporter. Currencies from nations dependent on raw materials weakened, including South Africa’s rand and Mexico’s peso. China cut the yuan fixing by the most in three months, while South Korea’s won retreated from the strongest level since December as a technical indicator suggested it’s been overbought against the dollar. The MSCI Emerging Markets Index of stocks declined after entering a bull market Friday.
more...
www.bloomberg.com/news/articles/2016-03-21/emerging-market-currencies-fall-back-to-earth-after-fed-euphoria
