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News Link • Economy - Economics USA

Emerging Market FX Hits Fresh 5-Year Low - Contagion Unfixed

• Zero Hedge
It was only a few days ago that investors were told they were "stupid" if bearish on US stocks because of EM weakness. Things have not gone as planned. That temporary blip has been demolished and EM FX has crumbled lower to fresh 5-year lows with many hitting record lows... and no, this does not mean money will flow back into US stocks (as we exclaim below). *COLOMBIAN PESO EXTENDS DROP, FALLS 1.7% TO 2,050.25 PER USD *ARGENTINE PESO WEAKENS 0.2% TO 8.0344/USD IN OFFICIAL MARKET *TURKISH STOCK INDEX DECLINES 2ND DAY TO LOWEST SINCE JULY 2012 *YANUKOVYCH SAYS UKRAINE MUST STOP `EXTREMISM AND RADICALISM' 

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