Emerging market currency indices have risen for 10 consecutive weeks, marking their longest winning streak since 2007, with the rally unbroken even by strong US non-farm payroll data.
The MSCI Emerging Markets Currency Index rose 0.4% on Friday, accumulating a 0.7% gain for the week, marking its 10th consecutive week of increases, the longest winning streak for the index since 2007. Although strong US non-farm payroll data briefly pushed up the dollar and suppressed emerging market currencies, currencies such as the South African rand and Mexican peso quickly recovered their losses afterward. The market is now closely watching the US inflation data to be released next week, as its results will have a decisive impact on the Federal Reserve's next policy direction.
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