Emerging FX Index Rebounds as Trump Offers Iran Truce Extension

An index for emerging-market currencies rebounded from the day’s low after President Donald Trump extended a ceasefire until Iranian officials submit a “unified proposal,” just one day before the truce was scheduled to expire.

In a tumultuous session, the MSCI gauge for currencies finally edged higher after the index’s end-of-day adjustment. Still, most currencies fell, with the Israeli shekel, Chilean peso and Hungarian forint leading the decline. The equities index, which earlier neared a record high, pared its advance before also edging back up at the end of the day.