Emerging-Market Assets Advance With Oil as Investors Await Fed
- Egyptian stocks rise to eight-month high as protests fade
- Currencies end three-day decline as real, ruble strenthen
Will FOMC Lay Groundwork for a June Rate Hike?
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Emerging markets halted their declines as an advance in oil offset caution before the Federal Reserve’s comments this week on the pace of U.S. interest-rate increases.
Egyptian stocks rallied to an eight-month high after anti-government protests fizzled out. Indian equities jumped to the highest level since Jan. 1 as data showed foreigners are returning to the Mumbai market. The Turkish lira strengthened for a second day as the new central bank governor signaled he would follow a prudent policy. Russia’s ruble and the Brazilian real rose as Brent crude sold for more than $45 a barrel.