The EM Currencies that Carry Risk and Opportunity
The rand advanced to the strongest in almost six weeks, leading global gains against the dollar on speculation South Africa may avert a debt downgrade this year after prosecutors dropped fraud charges against Finance Minister Pravin Gordhan. The currency gained 2.5 percent to 13.4907 per dollar by 6:04 p.m. in Johannesburg, the strongest on a closing basis since Sept. 27. The rand strengthened most among 31 major and emerging-market currencies against the dollar and climbed 1.7 percent in October, a second monthly advance. HSBC Global Head of FX Strategy David Bloom discusses Emerging Market currencies with Anna Edwards and Yousef Gamal El-Din in London and Manus Cranny in Dubai on "Bloomberg Daybreak: Europe."