A cohort of Wall Street’s emerging-market bulls is growing wary of calling a new dawn for riskier assets, opting for a more cautious approach to developing-nation currencies.
With the bulk of Federal Reserve aggressive rate increases already over, some of the world’s top investors predict the dollar will soon fall into a multi-year weakening trend. Such a shift stands to support emerging markets — and indeed propelled gains of nearly 9% in developing currencies from late October to early February.
