| Fears of a default in Greece and an escalating conflict in Ukraine spilled over into emerging markets as investors fled for safer assets, sending currencies in Asia and other developing countries tumbling. Indonesia’s rupiah sank as much as 1% while South Africa’s rand hovered close to its weakest in over a decade and the Malaysian ringgit’s slide gathered steam.
From a political gridlock in Europe over the restructuring of Greece’s mountain of debt, to unsuccessful cease-fire talks aimed at ending the conflict in Ukraine and a renewed slide in oil prices overnight, pockets of risk for investors are growing with emerging market assets bearing the brunt...............................................Full Article: Source
|