MSCI EM currency index sees biggest daily drop in a year

MSCI EM currency index sees biggest daily drop in a year

MSCI EM currency index sees biggest daily drop in a year Turkey's lira, South Africa's rand and Mexico's peso all weakened    LONDON- MSCI's emerging market currency index lost 0.7% on Monday and was on track for biggest daily drop since the pandemic roiled markets in March 2020, as a rise in U.S. Treasury yields lifted the dollar and buffeted riskier assets.The EM index- which is heavily skewed towards Asian currencies - slipped to a three month low of just under 1,700 points, Refinitiv data showed.Turkey's lira, South Africa's rand and Mexico's peso all weakened more than 1% against the dollar while China's onshore yuan slipped 0.5% to turn negative on the year. (Reporting by Karin Strohecker; editing by Marc Jones) (([email protected]; +442075427262; Reuters Messaging: [email protected]))Zawya CoverageequitiesUAE's Arrow Capital co-sponsors $240mln Nasdaq tech SPACuaeExpat women in UAE remit more of their salaries than mentravelSaudi reinstated in Abu Dhabi 'green list'; no more quarantine for travellersacquisitionSaudi Arabia's NADEC to begin acquisition talks with DavabusinessADNOC is UAE's most valuable brand; Etisalat is strongest brand: new studyMoreReuters Coveragefinancial servicesCiti, JPMorgan expect Turkey central bank to hike by up to 100 bps in MarchenergyIsrael, Cyprus and Greece agree to link power grids via subsea cablesecurityLebanon