EM currencies in vogue

LONDON & NEW YORK - The year opened with a moderate return of risk appetite benefiting emerging market currencies despite patchy liquidity conditions, say analysts.

"There are signs that some of the riskier currencies are coming back in shape," said a global head of e-commerce at an investment bank in London. "But the markets are still volatile and liquidity - although coming back - is still not where it used to be."

According to Lorne Gavsie, director in foreign exchange at BMo Capital Markets

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