Emerging Market Assets Rally, Boosted by ‘Sell America’ Trade
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Currencies and stocks in the developing world climbed at the start of the week, propelled by an ongoing rotation away from the US that’s pushing investors to look at undervalued emerging-market assets.
An MSCI Inc. gauge for developing-nation currencies advanced 0.3% on Monday, finishing the day at its highest level since early October. The Polish zloty, the Hungarian forint and the Romanian leu registered some of the biggest appreciations in a basket of peers tracked by Bloomberg.