Dollar slides against emerging market currencies
The dollar fell against emerging market currencies Wednesday as investors awaited a meeting between President Donald Trump and European Commission President Jean-Claude Juncker.
The dollar was recently down 1% against the Brazilian real and lost 1.2% against the Turkish lira. It was off 0.5% against the Mexican peso while also losing ground against other emerging-market currencies.
Some investors are hopeful Wednesday’s meeting can defuse recent trade tensions between the U.S. and Europe. Worries over an intensifying global trade fight have hit emerging-market assets particularly hard, weighing on the prices of stocks and currencies throughout the developing world.
The WSJ Dollar Index, which measures the U.S. currency against a basket of 16 others, was recently down 0.1% at 88.20.