BENGALURU/JOHANNESBURG - Emerging market currencies will take well into next year to start making noticeable gains against a retreating U.S. dollar, despite a growing view the interest rate cycle has peaked, a Reuters poll of FX strategists showed.
However, with most EM central banks expected to follow the Fed and cut rates next year, their respective currencies were unlikely to recoup double-digit losses they have accumulated over the past couple of years. This excludes the Russian rouble, which has lost 27% this year, and the Turkish lira, which is down 52%.
The South African rand is set to gain less than 1% while the Turkish lira is set to fall around 16% in a year. 'The stupidest investment I ever saw': Charlie Munger trashes 2 popular investment trends — here's what Warren Buffett's business partner prefers instead A market forecaster has been buzzing about a generational buying opportunity in stocks. One long-time market bear disagrees.
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