| Emerging-market currencies surged to fresh highs Thursday, as global markets digested the prospect of ultra-low rates in the U.S. for at least another two years. The Mexican peso, Brazilian real and Turkish lira jumped to their strongest levels versus the dollar in months, while Hungarian forint climbed to a three-month high against the euro. Emerging-market sovereign debt's gains were more subdued, however.
The U.S. Federal Reserve said Wednesday that U.S. interest rates would likely remain exceptionally low until late 2014..............................................Full Article: Source
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