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Emerging market currencies take divergent paths

Posted on 03 January 2013

In an affirmation of what market participants believed would be the defining trend of the year, the first trading day of 2013 opened with the theme of divergence within emerging market currencies.
The Russian ruble and the Mexican peso were gainers on the session after Congress signed a deal to avert a slew of spending cuts and tax increases known as the fiscal cliff. But the gains weren’t felt across the board, with the South African rand among the decliners………………………………………..Full Article: Source


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