USD Falls Through An Air Pocket as Emerging Market Fears Ease
The currencies of the emerging markets have been declining during this period. But, today the situation looks a lot better. Most of these...
The US Dollar has been on a strong bullish trend recently and fears about a possible meltdown in emerging markets have fueled the demand for the USD. After Turkey’s financial crisis, the worries for a possible spill into other emerging markets such as China, Russia, India, etc. increased.
The currencies of the emerging markets have been declining during this period. But, today the situation looks a lot better. Most of these currencies are up against the Dollar today, particularly the Colombian and the Mexican Pesos, Brazilian Real. Russian Rubble etc.
The Turkish Lira is leading the way though as it claimed back around 20% of the value. Rumors say that China and the US have decided to meet although I don’t know when. But, that is a first step in the right direction and the market is loving it.
The sentiment is much better across all financial markets. Stock markets are feeling a bit better today: currency and even Gold which crashed lately is reversing. This is a good sign but let’s see how long this will last.
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