Answering the dollar doldrums
Cash is flooding into emerging markets currencies at breakneck pace. Hedge fund managers are leading the charge, and are now looking at more exotic currencies for yield. By Rachel Wolcott
With the dollar in decline, investors – led by hedge funds – have piled into emerging market currencies. Some of the more familiar emerging market currencies, such as the Brazilian real, South Korean won and Polish zloty, have appreciated significantly in recent months, forcing investors to look at alternative currencies for yield.
The Ukrainian hryvna, the Romanian leu, the Slovakian koruna and African currencies such as the Egyptian pound and the Algerian dinar have all attracted
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