NEW YORK : Emerging markets posted a fifth straight month of portfolio outflows in July, setting the longest such streak in records going back to 2005, as global recession risk, inflation and a strong dollar drew away cash, data from the Institute of International Finance showed on Wednesday.
Commodity exporters, many in emerging markets, gained revenue and attracted investment, and heightened payments to them also countered dollar strength - but only for a while. But on Tuesday a trio of Fed officials from across the policy spectrum signaled that they and their colleagues remained"completely united" on getting U.S. interest rates up to a level that would more significantly curb economic activity and put a dent in the highest inflation since the 1980s.