(Bloomberg) — Emerging-market currencies face further sell-downs of up to 30% if the spreading coronavirus outbreak causes U.S. stocks to slide as much as they did in the global financial crisis, an analysis by Bloomberg shows.The dollar may strengthen a further 30% against the Russian ruble and 23% versus the Chilean peso, according to the study that examines moves in developing-nation currencies to significant sell-downs in S&P 500 Index, and scales those to a 50% loss. In contrast, the U.S. currency is likely to gain only 1% against the Chinese yuan.The analysis shows currencies from countries with current-account deficits and …read more
Source:: Yahoo Finance
