01.11.2013 - Emerging market currencies at the mercy of Fed's taper
Many emerging market currencies are vulnerable to severe sell-offs the day the U.S. Federal Reserve reins in its quantitative easing program. The timing of the so-called Fed taper – and possibly an emerging market crisis – is complicated by several factors. Many emerging market countries have over-dosed on easy money from the central banks of developed countries. Some have ended up becoming addicted to those capital flows as current account deficits have swelled along with the misallocation of assets.........................Full Article: Source