Fed's Hawkish Tilt Has Emerging Markets Scurrying to Save Currencies

MATA UANG EMERGING MARKET - MUMBAI/SINGAPORE. Central banks from Brazil to Indonesia scrambled to defend their struggling currencies on Thursday, hours after the Federal Reserve jolted markets by indicating it may not cut rates by much next year.

The Fed's tacit acknowledgement of the inflationary risks likely to come from incoming president Donald Trump's immigration and trade policies unnerved investors.