Reported 10 months ago
Currencies in developing economies worldwide, especially in Europe, experienced a decline due to heightened political risks following the European Union elections. The MSCI emerging currencies gauge dropped by 0.3%, with European and Asian currencies being affected. Despite this trend, the South African rand strengthened against the dollar after initial political uncertainty post-election. The Mexican peso initially rose but later weakened. Experts suggest that market optimism and ongoing political reforms contribute to currency movements, with attention placed on upcoming US inflation data and its impact on the Federal Reserve rate outlook.
Source: YAHOO