| Emerging-market currencies tumbled Monday as anxiety about the euro-zone debt crisis resurfaced, with Italy in focus. Growth-sensitive currencies among developing countries continue to be dominated by developments in the euro zone, with emerging European currencies suffering the brunt of the losses. The Hungarian forint hit a new all-time low against the euro Monday, as investors remain concerned about the country's growth outlook and its links to western Europe.
Concerns as to whether Italy will be able to implement austerity measures successfully and grow enough to meet its debt obligations overtook markets, as Italian government bond yields ticked higher.............................................Full Article: Source
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