How a dollar-based world wrecks the rand and others – The Wall Street Journal

Emerging markets have been routed in the last few weeks. The Turkish lira, Brazilian real, Argentinian peso, and the South African rand have all lost ground against the dollar. But the problem doesn’t necessarily lie at home in those countries, it lies in the ongoing dominance of the dollar.

Emerging markets have been routed in the last few weeks. The Turkish lira, Brazilian real, Argentinian peso, and the South African rand have all lost ground against the dollar. But the problem doesn’t necessarily lie at home in those countries, it lies in the ongoing dominance of the dollar.

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