Taper shocker Wednesday: a round-up of EM reactions | beyondbrics:
"What a day. Emerging markets currencies, stocks and bonds got a much needed respite on Wednesday after the US Federal Reserve surprised the market by deciding to keep its $85bn-a-month bond-buying programme unchanged.
EM currencies – which suffered their worst rout in two years during this summer’s sell-off – were the biggest gainers. The Brazilian real jumped 3.2 per cent at 2.1860 to the dollar, its strongest level since late June, while the Mexican peso rose 2 per cent to 12.6420 to the dollar – a one month high.
In Europe, the Turkish lira rallied 2.6 per cent against the dollar, while the South African rand gained 2.25 per cent against the dollar to change hands at 9.5811."
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