Emerging-Market Currencies, Stocks Advance With Commodities
- Mexico, Argentina currencies hit new lows; Brazil real gains
- MSCI gauge for developing-nation stocks above 50-day average
Trennert: Currency a Big Part of Fed's Decision Process
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Emerging-market currencies and stocks advanced as a rally in commodities bolstered the outlook for raw-material exporters.
The MSCI Emerging Markets Currency Index rose for the fourth time in five days led by gains in South Africa’s rand and Brazil’s real, which advanced the most among major currencies. The Mexican peso weakened 1.9 percent to a record low, spurring Banxico’s intervention bets. The MSCI Emerging Markets Index of stocks climbed to a three week-high. The Bloomberg Commodity Index halted a three-day slide as the dollar retreated from the highest level in 14 years.