EM exodus continues ahead of imminent QE tapering

egyptian money

The sell-off in emerging market (EM) currencies continued this week as the minutes of the latest meeting of the US Federal Open Market Committee, published on Wednesday, confirmed the likely tapering of quantitative easing (QE) in the US to be imminent. But traders warn that forward positioning in key EM currencies remains fraught with risk.

The increasing likelihood that the Federal Reserve will scale back its bond buying programme has caused a steady flight from emerging markets over the past

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