Mexico Peso Leads Emerging Market Rally on Dovish Bank of Japan

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 61 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 63%

Bank Of Japan News

Bloomberg,Mexican Peso,Emerging Markets

(Bloomberg) -- Mexico’s peso led a relief rally in emerging markets after the Bank of Japan signaled it would be cautious about raising interest rates...

-- Mexico’s peso led a relief rally in emerging markets after the Bank of Japan signaled it would be cautious about raising interest rates, easing pressure on currencies that had been hammered as investors abandoned yen-funded bets on riskier assets.Paris Spent €1.4 Billion to Clean Up the Seine. Has It Worked?The news from Japan also boosted emerging market stocks, with MSCI’s EM equity index up 2% as it rose for a second day in a row and headed for its best two-day rally since November.

The BOJ message cames as a relief for emerging market currencies, since it shows Japanese policymakers are not targeting a stronger yen and would prefer it to be stable, said Anders Faergemann, a senior money manager at Pinebridge Investments.“Investors will hesitate to jump back into the carry trade and add EM FX,” he said. “However, you could argue that valuations are more attractive now and fundamentals remain supportive, which in itself should curtail further weakness.

Seven years after leading Catalonia's failed bid to secede from Spain, Carles Puigdemont is set to return from self-imposed exile despite facing a likely arrest that could trigger yet another crisis between the region and Madrid. Although the Spanish parliament passed a contentious amnesty bill in May pardoning those involved in the 2017 secession attempt, the Supreme Court has upheld warrants for the arrest of Puigdemont and two others charged with embezzlement.

Before McKenzie Ball and Erin Ball tied the knot, the couple kept their wedding dresses a secret — then on their big day, they showed up wearing the same gownMatt Damon remembers pal Robin Williams: 'He was a very deep, deep river'

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Massive Losses Set Stage for Big Rebound in Japan’s Bank Stocks(Bloomberg) -- The outsized drop in bank shares during the recent rout in Japanese stocks has the potential to bring an off-the-scale recovery.Most Read from...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Japan’s Bank Stocks Climb as BOJ Reported to Consider Rate Hike(Bloomberg) -- Japanese bank stocks rose the most since December 2022 after the nation’s central bank raised its benchmark interest rate and unveiled plans...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »