Emerging market currencies decline amid signs of the progress of Ukraine

Emerging market currencies fell on Tuesday with traders who are indicative of the progress of peace talks in Ukraine, while waiting for more signals about the US monetary policy of the Federal Reserve this week in Jackson Hall. The MSCI index of developing currencies has decreased slightly and recorded the fourth day of losses, influenced by the decline in the Brazilian, Indonesian rupee and the Colombian Bibzo. A parallel index has detected shares in emerging markets. The US dollar has risen amid poor trade volumes, with traders focusing on the speech of federal President Jerome Powell to confirm their bet on reducing interest in September. On the other hand, central and eastern currencies have obtained a group of optimism that a peace agreement between Russia and Ukraine could be reached, at a time when US President Donald Trump continued to encourage the leaders of the two countries to hold a bilateral summit. The Hungarian fortune was one of the best performances against the dollar. The Ukrainian dollar bonds were one of the category of emerging assets in emerging markets, and the shares of exposure companies jumped to Ukraine in Warsaw, Frankfurt and London. Optimism supports the central and eastern currencies, Pyoter Matisse, a currency analyst at Nche Capital Markets, said that “Central and Oriental coins are the most important beneficiary of the growing optimism in the market that the historical meeting of European leaders with Trump in the White House will lead President Zellinski and his Russian counterpart to the negotiating table.” The meeting, held in Washington between Trump, the Ukrainian president, Voludimir Zellinski and European leaders, on Monday in Washington, was interpreted as a successful step before a possible summit between Russian President Vladimir Putin and Zellinski. Trump urged the two leaders on Tuesday to express ‘flexibility’. The Brazilian assets between the largest were under pressure on the Brazilian assets in a separate context, and decreased by investors’ concerns about the effects of US “Magnitsky Law” on financial institutions in the country, and the possibility of increasing Trump’s tariff war against the Latin State. The Brazilian Riyal led the losses in the emerging markets, which withdrew up to 1.3%, amid extra pressure from the strength of the dollar and low oil prices. “There is a lot of friction between the United States and some Latin American countries. Economic data from the United States or from other places are not impressive, which gives the dollar the opportunity to recover in exchange for some emerging currencies that have no incentives,” says Juan Perez, director of Monix USA trade.