EM currencies allowed to slide after yuan
Fears of slow global growth, depressed oil and gas prices lead govts to let values drop
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THE world's emerging economies are allowing their currencies to slide in a quest to remain competitive, following China's devaluation of the yuan and the US dollar's strength in anticipation of US rate hikes.
The currencies of emerging nations in Asia have especially suffered in recent weeks from market speculation that the US Federal Reserve will lift interest rates this year - possibly as soon as September.
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