| The South African rand led a broad-based slide among emerging-market currencies Wednesday as investors grew increasingly jittery ahead of a critical U.S. jobs report. Investors are gearing up for the prospect of Federal Reserve tapering its bond-buying stimulus program.
Expansive Fed monetary policy has been associated with a weaker U.S. dollar and excess market liquidity that has driven investors to seek higher yields in emerging markets. A strong nonfarm payrolls report on Friday would likely affirm expectations of the Fed unwinding such stimulus some time this year, which would remove a pillar of support for emerging-market currencies...............................................Full Article: Source
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