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.”
MSCI’s gauge tracking currencies in the developing world ended the day down less than 0.1%. It earlier fell as much as 0.2% after Tasnim reported that the Iranian negotiating team was suspending “talks and the exchange of documents through mediators.” Trump’s comments tamped down the resulting concerns, but failed to extinguish them.