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Community Blog
AUD/NZD- Channel Up emerging pattern!
Emerging Market Crisis
Over the past 2 weeks we have seen how much damage the turmoil in emerging market countries can have on the assets of developed nations. Investors flocked into the safety of the U.S. dollar and Japanese Yen, as the Argentinian Peso (ARS), Turkish Lira (TRY), South African Rand (ZAR), Russian Ruble (RUB) and Hungarian Forint (HUF) dropped to fresh lows. Since the beginning of year the ARS lost over 18% of its value versus the dollar while the other currencies fell more than 5%. In the past 6 mon…