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Emerging market currencies mixed on global worries

Posted on 15 November 2012

Emerging market currencies were mixed Wednesday as global concerns continued to weigh on investors. Poor economic data from Greece and Portugal, which were actually worse than expected, prompted the initial weakening. But emerging market currencies gained a bit on the orderly transition of leadership in China and gained confidence that the new team would focus on stabilizing the country’s rebounding economy.
Also, comments by Federal Reserve Vice Chairwoman Janet Yellen suggesting rates would be held low for a long time and the Federal Reserve’s recent meeting minutes weakened the dollar………………………………………..Full Article: Source


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