"Good news is no news" day: emerging market currencies rise across the board
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The South African rand and Mexican peso (often regarded as barometers of risk appetite) were among the best-performing currencies. Despite reports that the US has proposed a new 25% tariff on goods from Latin American countries, the market largely ignored this news, and the Brazilian real also moved higher. In the stock market, a rally led by Asian technology stocks boosted global equities for the third consecutive trading day, with the MSCI Index reaching a record high. The index has risen over 27% so far this year.
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