FX investors struggle to exit illiquid EM currencies
The recent sell-off in emerging market (EM) currencies has led to problems for funds looking to exit certain positions and could produce losses of up to 30% for some investors, according to buy-side firms, with the Brazilian real, Indian rupee and Turkish lira among the currencies most at risk.
The flight from EM currencies was sparked partly by the prospect of the US Federal Reserve tapering its quantitative easing, which has led investors back to the US dollar. But the relatively low
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