Emerging-Market Currencies Shrug as Visa Spat Roils Lira: Chart

The diplomatic spat between Turkey and the U.S. that roiled the lira hasn’t dented investor appetite for emerging-market currencies. As the lira slumped 2.5 percent against the dollar on Monday, the MSCI Emerging Markets Currency Index gained 0.2 percent, extending a surge this year to 7.7 percent. The lira’s troubles are isolated and unlikely to spark “durable contagion,” according to Nader Naeimi of AMP Capital Investors Ltd. in Sydney.

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