Currencies in the developing world sank after a blowout US jobs report provided the clearest sign yet that the labor market is breaking out of a prolonged period of lackluster hiring, undercutting the case for rate cuts from the Federal Reserve.
Foreign exchange dealers work inside a trading room at Hana Bank in Seoul, South Korea, on Tuesday, April 14, 2026. Asian stocks advanced and crude oil extended declines as President Donald Trump raised hopes for an Iran deal, even as a blockade of the Strait of Hormuz took effect. Photographer: SeongJoon Cho/Bloomberg
Most emerging market currencies advanced Tuesday as Iran and the US stepped back from some of the hostile rhetoric that had marked previous days, boosting risk sentiment.
An employee counts South African rand banknotes at a currency exchange office in Pretoria. Photographer: Waldo Swiegers/Bloomberg
Mexican real estate investment trust Fibra MTY said it’s acquiring peer Fibra Macquarie after the latter’s shareholders backed the transaction.
The San Martin Obispo Park commercial facilities, part of the Fibra Next real estate investment trust (REIT), in Cuautitlan Izcalli, Mexico state, Mexico, on Sunday, Nov. 12, 2023. Latin America's largest real estate investment trust's planned IPO of Fibra Next, which will be formed with properties from Fibra Uno Administracion SA and another company controlled by the founders, had been looking to raise as much as $1.5 billion in a primary offering.
Emerging-market currencies snapped an eight-day winning streak on Monday as hopes faded for an imminent peace deal, even though President Donald Trump tried to calm market jitters by saying talks with Iran are moving at a “rapid pace.”
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