As the realization of imminent reduction of the Fed's ongoing stimulus program sets in, emerging markets come under pressure. It is becoming clear to investors that some of the strength in emerging markets in recent years was induced by the Federal Reserve's policy of monetary expansion. And now it's time to face reality.
After the US jobless claims number came out, the usual suspects got hit with sharp currency declines (USD rose).
Brazil
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| USD/BRL |
South Africa
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| USD/ZAR |
Turkey
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| USD/TRY |
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