According to the Goldman Sachs Group, Morgan Stanley and UBS, the rally over the past three months in emerging market currencies from Brazil’s real to Turkey’s lira will be hard to sustain as growing US self-sufficiency in energy, food, machinery, chemicals and industrial goods undermines demand for foreign shipments. Moreover, Bloomberg surveys predict all but three of 23 major emerging market currencies will retreat by year-end.
See a reprint of the Bloomberg article posted on the Times of Oman website as ‘Made-in-America’ revival to trouble emerging markets.
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