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By Farah Elbahrawy, Simon Flint, and Sydney Maki

February 14, 2021 at 2:13 PM UTC

Updated on

February 15, 2021 at 12:28 PM UTC

This article is for subscribers only.

Emerging-market investors seem to have a lot going for them right now -- and the renewed weakness in the U.S. dollar is adding to the bullish mood.

MSCI Inc.’s index tracking developing-nation currencies climbed to a record on Friday as the dollar posted its biggest weekly drop in 2021, even as U.S yields rose. A measure of implied volatility fell to the lowest since July, underscoring optimism about a vaccination-led global recovery and the prospect of more U.S. stimulus.