Emerging Market Currencies Plummet as Iran Truce Hopes Fizzle The recent surge in hopes for a lasting truce in Iran's long standing conflict with its neighbors has failed to materialize, leaving emerging market currencies reeling.
The trend is not new – EM currencies have been declining steadily over the past year, but the current downturn is particularly pronounced. What's Behind the Plummet in Emerging Market Currencies?
The causes of the plummeting EM currencies seem straightforward: a global economic slowdown, exacerbated by ongoing trade tensions between the US and China.