TEO - Time To 'Cry For Argentina'?
The Federal Reserve has now largely stopped its monetary tightening, yet the most vulnerable emerging market currencies are still falling like flies. The worst performer is the Argentine peso, which traded as low as 62 to the dollar on the nation's surprising election results last week. For all intents and purposes, the peso lost about half its value in 2018, catalyzed by the Fed's monetary tightening, and it halved again in 2019, with the political landscape shifting against Argentina's present President, Mauricio Macri.
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