EM currencies set for extended rout, say analysts
The travails of the Turkish lira over the past few weeks could signify a long-term fall among some emerging market (EM) currencies, as the tapering of quantitative easing (QE) in the US is further cranked into gear. “The balance of risks facing many EM countries is still tilted heavily to the downside. In other words, the rout could be extended,” says one FX strategist at a bank in London.
The Central Bank of the Republic of Turkey (CBRT) held an emergency meeting late on January 28, the first
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