Englander: Sterling Now an Emerging Markets Currency
Emerging-market stocks and currencies rebounded on further evidence the Federal Reserve will refrain from tightening policy anytime soon amid rising uncertainty about the outlook for growth at home and abroad. A gauge of developing-nation equities ended a two-day decline. South Korea’s Kospi index led gains among benchmarks, and the won strengthened the most as a measure of currencies rose for the first time this week. Minutes of the Fed’s June meeting released Wednesday showed policy makers were losing confidence in the U.S. economy’s ability to withstand an interest-rate hike as they awaited Britain’s vote on exiting the European Union a week later. Citigroup Global Head of G10 FX Strategy Steven Englander discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."