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EM currency rally repairs half damage done since May

Posted on 20 September 2013

The Federal Reserve’s surprise decision to sustain its stimulus programme has given policy makers in emerging markets a reprieve from market pressures that could allow several countries to scale back support for their currencies.
Emerging markets currencies have now recovered about half the losses they had sustained against the dollar since May in a sell-off sparked by the Fed’s tapering plans. They rallied almost without exception on Thursday as markets absorbed the Fed’s announcement, with the biggest gains seen in those that had been hardest hit………………………………………Full Article: Source


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