15.12.2011 - Emerging market currencies can't hold up to rising dollar
Emerging market currencies were mostly weaker against the dollar, but held their own against the euro on Wednesday. Worries about the toll that Europe's troubles would have on the rest of the world escalated as German Chancellor Angela Merkel restated her opposition to common euro-zone bonds and expanding the size of the bailout funds. Earlier in the day, Italy had to pay investors a hefty premium to sell its five-year bonds. The euro slipped below $1.30, and has remained there for most of the day...............................................Full Article: Source
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