Emerging Markets’ Submerging Currencies
For many emerging markets, 2014 has gotten off to a grim start, with concern over the Chinese economy’s marked slowdown and the Argentine peso’s steep slide against the US dollar triggering heavy selling pressure on an array of currencies. But differentiation is needed, and that is what financial markets are now doing.
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MUNICH – For many emerging economies, 2014 has gotten off to a grim start. Concern over the Chinese economy’s marked slowdown and the Argentine peso’s steep slide against the US dollar has triggered heavy selling pressure on an array of emerging-market currencies. But the current volatility does not portend sustained weaker growth in emerging economies as a whole. Differentiation is needed, and that is what financial markets are now doing.