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Developing countries' currencies were severely affected by sales due to investors' fears that their economies would not cope with higher US interest rates. This has prompted the central banks of India and Indonesia to call the Fed for careful action while Brazil warned of challenging times.
However, there are not many signs that the problems of emerging markets will change the policy of the Fed. Analysts are expecting at least two more interest rises this year, except for almost full-rate interest rates next week.
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