Emerging currencies of commodity exporters strengthen despite lure of US yields: Reuters poll

Emerging currencies of commodity exporters strengthen despite lure of US yields: Reuters poll

JOHANNESBURG / BENGALURU (Reuters) – Emerging market currencies of commodity-exporting countries are expected to strengthen over the next 12 months as the world recovers from the coronavirus pandemic – and despite recent increases in U.S. Treasury yields, a Reuters poll uncovered Thursday.

FILE PHOTO: A bureau de change holds Peruvian sol bills on a street in downtown Lima, Peru December 15, 2017. REUTERS / Mariana Bazo

High beta emerging market currencies, which last year had their best year since 2017 with gains of more than 3%, have come into question after the yield on benchmark 10-year US Treasuries fell. hit a one-year high last week.

Yet as investors wonder if the world is entering a cyclical commodity rally or a new supercycle, commodity-linked currencies are already firmer …

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