FX traders break up USD/EM basket for first time in five years
Emerging market (EM) currencies are being traded on relative performance against the US dollar for the first time in nearly five years, say market participants.
Since the financial crisis investors have poured money into EM currencies in search of greater yield while looking to avoid the effects of low interest rates and loose monetary policy in the eurozone, the US and the UK. However, coinciding with the Fed's forward guidance on tapering its quantitative easing programme last May, investors
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