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Renminbi touches eight-year low in EM currency rout

Posted on 25 November 2016

Rush back into US assets leaves range of Asian currencies at record lows. The relentless rise of the dollar scorched emerging market currencies on Thursday, sending China’s renminbi to its weakest level in eight years, while India’s rupee plumbed a record low.
Broad currency weakness against the dollar came as the bond market fully expects policy tightening by the Federal Reserve at its December meeting. Investors are also looking to next year and trying to gauge the extent of further Fed tightening under the proposed fiscal stimulus measures from president-elect Donald Trump………………………………….Full Article: Source


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