Emerging-market currencies swung wildly on Wednesday, mirroring moves in the dollar on fears President
Reports that Trump had discussed the move in a meeting with congressional Republicans sent the dollar tumbling in the morning and a gauge tracking developing world currencies spiking higher. Both the dollar and emerging currencies then pared the move after Trump told reporters at the Oval Office that he is “very unlikely” to fire Powell.
The MSCI EM currency index ended the day down 0.1%, after falling more than 0.4% at one point. The dollar slid 0.3% ...