EM currencies

Emerging market currencies take a pounding

Foreign exchange weakness has dramatically exacerbated declines in emerging equity markets as investors unwind carry-trades, according to Citi.

<div style="text-align:left;"> Students in Brazil call for lower interest rates at a protest last month – a demand that was unexpectedly met when the central bank cut rates on August 30 (AFP) </div>

Rupert Walker

September 30, 2011

Any hopes that emerging markets could somehow ring fence themselves from the eurozone debt crisis and the misery of the US economy have been unequivocally shattered this month. Forget it.

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