Emerging market economies see currency slowdown
Amid a surge of anti-government protests in Turkey, the Turkish lira has fallen compared to the U.S. dollar. But it doesn’t end with the lira and political unrest in Turkey — many emerging market currencies are down. When interest rates were extremely low in the U.S., investors put their money in rapid growth economies. As U.S. rates rise, that cash is coming back. What are the global economic reverberations ?
Chris Turner, head of foreign exhcange strategy at ING Commercial Banking in London, joins Marketplace Morning Report host David Brancaccio to discuss.
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