Undervalued emerging markets remain attractive
But uncertainty and geopolitical risk may stand in the way
Emerging market (EM) currencies are undervalued and expectations of downward pressure are exaggerated, delegates at the FX Invest Europe conference in Zurich said on February 22.
This sense of optimism prevails, they said, despite an environment reminiscent of the taper tantrum of 2013, when EM currencies plunged lower, some by as much as 60%.
"Since then we've had a recovery and a rebound, which we think is sustainable," said Alexander Nagel, a managing director at Global Evolution.
"The
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