FX Focus - EM currency markets face fragmented 2014

Predicting divergences key for currency managers

stephen-jen

Last year was tough for central bankers in emerging market (EM) countries, thanks largely to chatter from their counterparts in the US. In fact, you could forgive any EM central banker for wanting to pin a picture of Ben Bernanke to a dartboard on the back of their office door. In May 2013, the then-Federal Reserve governor told the US Congress that drawdowns on the Fed's quantitative easing (QE) programme might begin in late summer or early autumn. As things turned out, the tapering of QE didn

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