Emerging Currencies Rally As Traders Brace for Heated US Vote
- Brazilian real and South African rand lead gains across EM
- MSCI stock index rises amid a rebound in TSMC shares
Donald Trump during a campaign event in Macon, Georgia, US, on Nov. 3.
Photographer: Christian Monterrosa/BloombergThis article is for subscribers only.
Developing-world currencies ranging from Latin America to Eastern Europe rose Monday ahead of the US election as traders reassessed bets on Donald Trump returning to the White House after weekend polls indicated Vice President Kamala Harris was gaining ground across key swing states.
MSCI’s index for emerging currencies gained 0.2%, with the Brazilian real and the South African rand leading the advance amid a widespread re-evaluation of the so-called Trump trade. The Mexican peso, which has suffered from Trump’s talk of imposing tariffs, also rose, recording its biggest intraday gain since September 13.