The idea that there is such a thing as a trend in "EM currencies” (graph 1) is an artifact of

The idea that there is such a thing as a trend in "EM currencies” (graph 1) is an artifact of weighting and aggregation. Better to think as graph 2 suggests of the China-S Korea-Taiwan complex, commodity producers, India and …. Turkey.
ft.com/content/2b0d7d… https://t.co/sxLeK5rrJB

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