EMERGING MARKETS – Currencies suffer worst day of the year thanks to bullish US bond and dollar yields

EMERGING MARKETS - Currencies suffer worst day of the year thanks to bullish US bond and dollar yields

* EM forex index hits 3-month low * Dollar, US yields rise after Senate passes $ 1.9 billion package * Turkish lira drops 2.2%; South African rand, Brazilian real down 1% * Russian ruble returns oil price gains soaring (updates throughout, price updates) By Susan Mathew March 8 (Reuters) – An emerging market currency index on Monday appeared to post its biggest drop since a pandemic-induced slide a year ago, as rising U.S. Treasury yields lifted the dollar and tarnished appetite for assets at risk. The MSCI Developing Market Currencies Index slipped 0.8%, the Chinese yuan fell 0.4% to turn negative for the year, while the Turkish lira fell 2% to its lowest in almost three months. The South African Rand, Brazilian Real and Mexican Peso have all weakened more more than 1% against an outbreak …

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