Emerging markets FX: what happens next?


LONDON – The financial crisis in Argentina deepened last week with the resignation of central bank chief Roque Maccarone and the peso hitting above two per dollar, from the 1:1 dollar peg disbanded two weeks ago.

As the risk of contagion spreads to other Latin American countries, FX investors and market observers are looking to detect early signs of trouble elsewhere in emerging markets FX.

And with the weakening yen affecting Asian countries that compete with Japan in their export mar