World News

Surging dollar sends emerging currency index to lowest in more than three years

LONDON (Reuters) – The stampede into dollars pushed MSCI’s Emerging Markets Currency Index <.MIEM00000CUS> to its lowest level in more than three years on Thursday and set it on course for its worst week since September 2011.

MSCI’s index of emerging market shares <.MSCIEF> was lower for its fourth day running, down 3% on the day and at its weakest in more than four years. The index is headed for its worst week since the 2008 global financial crisis.

(Reporting by Tom Arnold; Editing by Dhara Ranasinghe)

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