Hawkish Central Banks Fuel Biggest Currencies Gains: EM Review

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Jun 26 2021, 1:51 AMJun 28 2021, 3:55 AMJune 26 2021, 1:51 AMJune 28 2021, 3:55 AM

(Bloomberg) -- The Mexican peso led gains among emerging-market peers, strengthening 4.1% against the greenback over the week, boosted in part by a unexpected interest-rate hike on Thursday. Brazil’s real and Chile’s peso were the next biggest gainers as their respective central banks released distinctly bullish minutes. In general, global markets favored risky assets after Federal Reserve Chair Powell said the monetary authority won’t raise rates preemptively.

Highlights

Asset moves as of 4:20 p.m. in New York	Weekly
MSCI EM stocks index	+1.4%
MSCI EM FX index	+0.2%
Bloomberg Barclays global EM local-currency bond index (Up to Thursday)	-0.1%

Asia

EMEA

LatAm

This story will be discontinued from July 5. Please see EM Week Ahead instead.