Nick Nasad
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Chart: Emerging Market Currenices Have A Tough Year

In addition to the strong performance in equities in the major economies (US, Japan, Europe, UK) another key theme in 2013 was the weakness in the emerging market space - especially when it came to the currencies of Brazil, Turkey, India, and Indonesia.

As we can see the Indonesian Rupiah has suffered the worst, while the other 3 were able to bottom out from their tailspin following Bernanke's first hint at tapering. November and December proved to be months of consolidation, but with their currencies about 12% lower against the USD, will this spur some increase in exports from those countries and a rebound in the currencies? Or will the theme of the removal of Fed bond buying continue to fuel a move out of the emerging market space, which could further undermine those currencies? Something to think about as we move into 2014.