Emerging-Market Currencies Fall as Mexico Peso, Turkey Lira Sink
- Stocks in developing nations advance after Chinese data
- Brazil’s Ibovespa leads gains among biggest equity markets
Turkey's Erdogan Urges Banks to Cut Interest Rates
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Emerging-market currencies declined as Mexico’s peso and Turkey’s lira slumped to record lows. Stocks rose to the highest level in three weeks as Chinese factories and services data bolstered confidence in the world’s second-largest economy.
Mexico’s peso weakened beyond 21 per dollar after Ford Motor Co. decided to scrap plans to build a $1.6 billion plant in the Latin American nation and U.S. President-elect Donald Trump criticized General Motors Co. for building a version of the Chevrolet Cruze compact there. The Turkish lira dropped 1.4 percent after a report showing inflation accelerated more than estimated in December.