Surging dollar sends emerging currency index to lowest in more than three years

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FILE PHOTO: A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. REUTERS/Marcos Brindicci

The stampede into dollars pushed MSCI’s Emerging Markets Currency Index .MIEM00000CUS to its lowest level in more than three years on Thursday and set it on course for its worst week since September 2011.

MSCI’s index of emerging market shares .MSCIEF was lower for its fourth day running, down 3% on the day and at its weakest in more than four years. The index is headed for its worst week since the 2008 global financial crisis.