US political gridlock puts EM currencies in stasis


Emerging market currencies are enjoying a period of respite from the volatility they have experienced over the past few months, thanks to political dysfunction in the US that has produced a government shutdown and doubts over the country's solvency.

The currencies of several emerging markets, notably the Indian rupee and the South African rand, took a battering earlier this year when the US Federal Reserve raised the prospect of reducing its quantitative easing (QE) programme, prompting many

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