Economics
Curious Curse of May: Emerging-Market Currency Bulls Beware
- Developing currencies dropped in six of the last seven Mays
- There’s vulnerability to a negative surprise: Credit Suisse
This article is for subscribers only.
Blame dividend payments, weddings in India, or simply plain profit-taking. Developing-nation currencies could be in for a rough month in May, if history is any guide.
The MSCI Emerging Markets Currency Index has fallen in May in the six of the past seven years, a seasonal quirk that’s prompted Citigroup Inc. and Credit Suisse Group AG to warn investors that the gauge’s five-month winning streak may be coming to an end.