Emerging Market Currencies Drop to 2024 Low After Iran's Attack on Israel [Yahoo! Finance]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance
tensions and after robust US data boosted bets the Federal Reserve will delay interest-rate cuts. Most Read from Bloomberg Beyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI Iran's Attack on Israel Sparks Race to Avert a Full-Blown War S&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets Wrap Trump Media's $5.3 Billion Selloff Deepens as 270% Rally Fizzles Apple Faces Worst iPhone Slump Since Covid as Rivals Rise The MSCI EM Currency Index dropped 0.2% on Tuesday to the lowest since December. The US currency got an extra boost in early Tuesday trading after China moved to weaken the daily reference rate for the yuan after sustained dollar pressure. Haven demand for the greenback has also increased after Iran's attack on Israel pushed conflict between the two countries into a perilous new phase. China Loosens Grip on Yuan by Weakening Fixing as Dollar Gains “The undesired mix of geopolitics, high for longer rates and volatility in y
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