Emerging markets face ‘wrecking ball’ from tariff turmoil

​ Most emerging-market currencies will decline, according to Societe Generale strategists, who warned that China's yuan is set for a "modest" depreciation and that South Africa's rand and Latin American currencies will likely be stuck at weak levels. At Goldman Sachs, strategists said the dollar unwind will probably support exchange rates in other big developed countries, and not EM. Most emerging-market currencies will decline, according to Societe Generale strategists, who warned that China's yuan is set for a "modest" depreciation and that South Africa's rand and Latin American currencies will likely be stuck at weak levels. At Goldman Sachs, strategists said the dollar unwind will probably support exchange rates in other big developed countries, and not EM.  Most emerging-market currencies will decline, according to Societe Generale strategists, who warned that China's yuan is set for a "modest" depreciation and that South Africa's rand and Latin American currencies will likely be stuck at weak levels. At Goldman Sachs, strategists said the dollar unwind will probably support exchange rates in other big developed countries, and not EM.