Emerging Currencies Rise Fifth Day as Minutes Spur Fed Rate Bets
- Bloomberg FX index rise to an eight-week high after minutes
- Ruble appreciates to strongest since late July as oil rallies
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Emerging-market currencies rose for a fifth day as minutes from the Federal Reserve’s September meeting stoked speculation that policy makers will move slowly to raise the near-zero U.S. borrowing costs that have bolstered demand for riskier assets in developing nations.
A Bloomberg gauge of 20 currencies rose 0.8 percent to an eight-week high against the dollar. The MSCI Emerging Markets Index fell 0.3 percent to 848.37 after rising as much as 0.2 percent.