Back to fundamentals in emerging markets – Wells Fargo
The overall contagion risk of a crisis in Turkey is fairly limited
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The plunge in the Turkish lira has focused investors on economic fundamentals in emerging market (EM) economies and made them more selective with exposures, Erik Nelson, a currency strategist at Wells Fargo, says.
Recent turmoil in Turkey has sent jitters and volatility across the EM universe, triggering concerns over contagion. The lira dropped nearly 40% against the dollar in the year to date, with most losses materialising in August.
Meanwhile, the currencies
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