May 26 Reuters An index of emerging market currencies touched alltime highs on Wednesday as the dollar languished at near fivemonth lows, although the Belarusian rouble lagged amid tensions with the West.
Turkeys lira staged a modest recovery after the replacement of yet another central banker saw it post its worst day in two weeks on Tuesday, while South Africas rand held near highs last seen more than twoyears ago.
The dollar remained close to fivemonth lows as easing inflation worries prompted investors to seek returns from higher yielders.
The continual commentary from U.S. Federal Reserve officials reinforcing the current Fed accommodative policy is pushing U.S. yields lower, keeping the dollar on the back foot, and helping risk appetite, said Andre Cilliers, currency strategist at TreasuryONE.
Russias rouble rose 0.14, hovering close to midMarch highs. Leaders of Russia and the United States will meet in Geneva on June 16, the nations said on Tuesday, amid sharp disputes over election interference, cyber atttacks, human rights and Ukraine.
Both countries, however, have lowered expectations for breakthroughs, with neither in a mood to make concessions on their many disagreements.
Meanwhile, a Reuters poll showed expectations Russias stock market would hit 3,819 to notch a record high by yearend thanks to a recovery in commodity prices and stilllow interest rates globally. The MOEX index was last trading at 3,703.09 after touching a new high of 3,717.33…