Most Emerging Currencies Recover As Oil Whipsaws, Dollar Drops
US sailors attach ordnance to an F/A-18E Super Hornet fighter jet aboard the USS Gerald R. Ford aircraft carrier, on Feb. 28.
Source: US Navy
Most emerging-market currencies rebounded on Wednesday, as mixed signals around the Middle East conflict tempered the oil rally and weighed on the dollar.
A gauge of emerging-market currencies rose as much as 0.2% before reversing the advance at the close. The earlier jump was led by recoveries in the South Korean won, the South African Rand and Latin American currencies, with the Colombian peso erasing Tuesday’s losses and climbing to the second-best performer.