- Greenback got a boost Tuesday as China loosened grip on yuan
- MSCI EM currency index falls to lowest level this year
The resurgent dollar cut a swath through global emerging-market currencies Tuesday, weakening many through closely watched levels that forced some officials to step in to stem the losses.
China’s move to weaken its daily reference rate for the yuan added to the selling pressure, with the Indonesian rupiah, Indian rupee and the South Korean won among the hardest hit. But the dollar impact was broader, with a global gauge of emerging-market currencies falling to fresh lows for the year. Stocks also extended their losses, with a benchmark of emerging-market equities erasing their gains for the year.
CEO and Founder of CanAm Bullion has been dedicated to delivering exceptional value to Canadians since 2017. Driven by a mission to empower Canadians with expert investment advice and education, he has positioned CanAm Bullion as a trusted resource for those seeking to enhance their portfolios with precious metals. Under Michael’s leadership, the company has become synonymous with reliability, knowledge, and dedication, helping Canadians achieve greater financial stability and long-term success.
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