Emerging Market Currencies Higher on Global Turmoil

Some emerging-market currencies pushed higher on Wednesday as investors bet that renewed tremors in global markets would delay a rise in U.S. interest rates.  Stocks and bonds in the developing world have been rattled in recent weeks as money managers expected that a recovering U.S. economy would push the Federal Reserve to raise interest rates next year. Higher U.S. rates create an incentive for investors to cash out of emerging markets in search of the higher returns promised by dollar-denominated assets.

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