The emerging market currencies have been slammed over the past week or so. Names like Brazilian real, Mexican peso and South African rand have declined by 5.65% to 4.48%, respectively. “We are in a real EM sell-off now,” Robin Brooks, chief economist at the Institute of International Finance (IIF) and former chief strategist at the investment banking giant Goldman Sachs tweeted on Wednesday. According to Brooks, traders have put a bid under the US dollar on disappointment that Federal Reserve’s recent decision to adopt average inflation targeting did not translate into more stimulus and due to renewed coronavirus concerns and fading hopes for US fiscal stimulus. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US fiscal impasse will lead to below-forecast Q4 growth – Goldman Sachs FX Street 2 years The emerging market currencies have been slammed over the past week or so. Names like Brazilian real, Mexican peso and South African rand have declined by 5.65% to 4.48%, respectively. "We are in a real EM sell-off now," Robin Brooks, chief economist at the Institute of International Finance (IIF) and former chief strategist at the investment banking giant Goldman Sachs tweeted on Wednesday. According to Brooks, traders have put a bid under the US dollar on disappointment that Federal Reserve's recent decision to adopt average inflation targeting did not translate into more stimulus and due to renewed coronavirus concerns and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
