In the first week since Donald Trump returned to the White House, emerging-market currency traders are celebrating the small wins.
The absence of tariffs on Chinese imports, for now, was enough to fuel gains in developing-world currencies, leaving a benchmark index on track to climb 1.1% this week, its best performance since November 2023. Trump’s comments hinting he would rather not impose levies on China were further welcomed by investors, who hunted for hard-hit Asian currencies on Friday.
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