Investing in Currencies

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.A recent spate of currency devaluations has highlighted the intense pressure on many emerging economies, as the strength of the US dollar forces them to spend precious foreign reserves supporting their exchange rates.Egypt, Pakistan and Lebanon all abandoned longstanding policies of pegging their currencies to the dollar in January. With the US currency remaining historically strong despite falling back slightly since October, economists and investors warn that a further slew of emerging...