MSCI EM Currency Index Falls 0.4% as Dollar Extends 5-Day Surge
Updated
Updated · Bloomberg · May 15
MSCI EM Currency Index Falls 0.4% as Dollar Extends 5-Day Surge
11 articles · Updated · Bloomberg · May 15
Emerging-market assets slid Friday as investors priced in a wider inflation shock from the Middle East conflict, raising fears that central banks will keep rates higher for longer.
The MSCI EM Currency Index lost 0.4%, with the Brazilian real, Chilean peso and South African rand each down at least 1.2%; all but one developing-world currency weakened.
That drop tracked a fifth straight day of dollar gains, leaving the Bloomberg Dollar Spot Index on course for its biggest weekly advance since early March as money moved into the US currency.
The selloff adds to a broader global risk retreat already hitting stocks and Treasuries, with oil-driven inflation concerns pushing borrowing costs higher across markets.
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