Emerging Markets Advance as Fed Optimism Sparks Dollar Weakness
JOHANNESBURG, Capital Markets in Africa: Emerging-market currencies and bonds rallied as traders pushed back forecasts for when the Federal Reserve will increase U.S. interest rates, bolstering demand for higher-yielding assets. Most developing-nation currencies trading on Wednesday strengthened against the dollar, led by the South Korean won, Malaysian ringgit and South African rand. Russia’s ruble fell as oil declined for a second day, while the yuan strengthened the most in almost two weeks. Government bonds rallied, with Polish and…
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