India’s currency cartwheeled to historic lows on Monday while markets in Indonesia took a spill, evidence of how rising U.S. yields are making it harder for emerging nations to fund their current account deficits.
The turbulence heightened investor caution ahead of Wednesday’s minutes of the Federal Reserve’s last policy meeting, with many fearing they might only add to the confusion about when it might scale back stimulus.
That helped gold reach its highest in two months, while keeping share markets constrained across Asia.
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