Colombia's peso continues to weaken

Colombia's peso weakened after the central bank announced it would suspend an intervention aimed at slowing the currency's recent decline.

While the intervention is suspended, the central bank has not ruled our future options to buoy the peso.

The peso has declined more than 8 per cent so far this month, already past its lowest point since early April.

"This announcement eliminates a source of risk when taking on USD/COP positions and should therefore expedite the COP depreciation path," said Nomura Securities strategist Mario Castro.

EmergingMarketBanking

Read more at Reuters.

Emerging Market currencies fall as crude producers slow production

Emerging market currencies fell as crude oil producers slowed before the upcoming Doha summit. An output freeze is expected to be discussed at the meeting.

The currencies effected were emerging market energy producers, specifically Russia, Mexico, and Colombia.

Other, non-energy producing emerging market currencies continue to fare well amid the Federal Reserve slowing of interest rates.

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Read more at Bloomberg.

 

Turkey and Colombia among safest Emerging Market gains

Equity traders see Turkey and Colombia as the safest bets for gains in emerging markets.

The two country's stock markets have produced the highest returns so far this year among the 20 largest developing nations as political and economic troubles plague both.

A key indicator of continued high performance is based on Federal Reserve Chair Janet Yellen, who signaled continued capital flow into emerging markets as the US central bank's policy.

Read more at Bloomberg.

EmergingMarketBanking

Emerging Market currencies rise as China stimulus gains traction

Currencies in emerging markets such as Mexico and Colombia rose as the case grows for a massive Chinese stimulus package.

The People's Bank of China recently announced a reduction in the amount of cash banks must have on hand, sparking traders and investors to speculate about the moves being a precursor to a stimulus effort.

Read more at Reuters.