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BoS: High-yielding EM currencies “no longer cheap”

While the search for yield amongst emerging market (EM) currencies is likely to continue – with US growth having peaked and uncertainties about the French election having eased – high-yielding EM currencies are no longer cheap, according to Bank of Singapore. “Valuations no longer appear attractive, with the ‘good’ EM currencies back to fair/overvalued territory,” the bank says, noting that…

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