Emerging Market Currencies Soar Ahead of US Election
Emerging market currencies gained momentum ahead of the US election as traders reconsider bets on a potential return of Donald Trump to the White House. This article explores the impact of recent polls showing Vice President Kamala Harris gaining ground across key swing states.
Emerging Market Currencies Surge
Emerging market currencies rallied on Monday as traders reevaluated their positions prior to the US election. The MSCI index for emerging currencies saw a 0.3% gain, with the Brazilian Real and the Mexican Peso leading the charge. The Brazilian Real rose by as much as 1.9%, experiencing its biggest intraday jump since August 23, following a recent rout driven by fiscal concerns. Meanwhile, the Mexican Peso, which had been under pressure due to talks of tariffs, surged by 1.6%, marking its largest intraday gain since September 13.