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The dollar keeps on climbing, and that’s bad news for emerging markets—investors are getting spooked and retreating from riskier assets.
Many analysts expect the dollar to keep rising throughout the year, especially as the Fed looks determined to keep hiking rates at the same time Europe, Japan and China rely on stimulus strategies to bolster demand, the Wall Street Journal reports.
But the greenback’s victory has derailed one of 2016’s major economic successes—the rally in stocks, bonds and currencies in emerging markets. The MSCI Emerging Markets index is already down 6.2% for this month, and many developing currencies are falling steadily against the dollar. [WSJ]
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