Emerging Currencies Dip as Dollar Rallies After Retail Data
Expectations of a thaw in US-China relations during President Donald Trump’s summit with Xi Jinping backed demand for AI-related companies.
Photographer: Qilai Shen/BloombergEmerging-market currencies edged lower as the dollar regained its grip, rallying after recent US retail sales signaled consumer resilience in the world’s largest economy despite sharply higher gasoline prices.
The MSCI Emerging-Market Currency index dipped 0.1%, with investors dumping the South African rand and the Mexican peso — often gauges of risk-appetite. The dollar gained 0.2%, extending gains for the fourth consecutive session.