http://www.forexconspiracyreport.com/what-will-stable-u-s-interest-rates-do-for-emerging-market-currencies/
What Will Stable U.S. Interest Rates Do for Emerging Market Currencies?
The Fed met and put off any further increases in interest rates until at least June. What will stable U.S. interest rates do for emerging market currencies? Bloomberg Business reports that emerging market currencies hit a 4 month high on the news of stable U.S. interest rates.
Emerging markets rallied as the Federal Reserve’s dovish turn boosted appetite for riskier assets and Brent crude’s advance above $40 a barrel pushed energy stocks to a four-month high.
Brazil’s real and Colombia’s peso led a gauge of currencies to a four-month high after U.S. policy makers signaled two interest-rate increases this year, down from four forecast in December. Russia’s ruble climbed for a second day and South Korea’s won advanced the most in four years. The MSCI Emerging Markets Index of equities headed for its highest close in three months as stocks of energy exporters from Saudi Arabia to South Africa rallied with oil. The Ibovespa rallied to the highest level since August.
The prospect of higher U.S. interest rates had put a damper on currencies across the board. But now the Fed has signaled that it will probably only raise rates twice this year and the result was 3% bump in currencies like the Colombian peso.
Where Are Emerging Market Currencies Going Next?
A year ago we wrote about trading the Colombian peso.
4. http://www.forexconspiracyreport.com/what-will-stable-u-s-interest-rates-do-for-emerging-market-currencies/
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