Time to buy the world’s worst currencies
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Euro declines to day’s minimums as ECB tapering expectations weaken
On Wednesday, the common currency tumbled to the day’s minimums, following reports that ECB President Mario Draghi won’t deliver any fresh monetary policy message at the Fed’s Jackson Hole conference.
The currency pair EUR/USD deceased 0.23% being worth 1.1707, tumbling from 1.1723 reached earlier.
The given report tempered hopes that the EU’s key bank is actually moving closer to unveil plans to scale back its monetary stimulus program.
Anticipation had been mounting ahead of the speech that’s due to occur on August 25 amid hopes that Draghi would point to a definite shift in ECB policy.
The common currency was a touch lower versus the British pound, with EUR/GBP slumping 0.12% being worth 0.9107.
At the same time the common currency retraced revenues versus the Japanese yen, with the currency pair EUR/JPY last trading at 129.77, edging down from an overnight peak of 130.4.
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