History No Friend to Emerging-Market Currencies as August Lands

  • Currencies fell this month in seven of the past 10 years
  • Drop-off in liquidity seen extending losses from falling oil

Nowhere to Go but Down for Dog Days of August Markets?

Currencies of developing nations have had a great run since the aftermath of the Brexit vote, posting an advance in the past month or so that’s been bettered just once in 4 1/2 years. Now their gains may be about to come to an abrupt halt -- all because of a quirk of history.

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