ISTANBUL -- As the U.S. and European central banks slowly tighten monetary policy, investors are growing pickier about emerging-market currencies, steering clear of countries with unsettled political climates.
Previous monetary easing in the U.S. and Europe after the 2008 financial crisis spurred a flood of money into emerging countries in search of higher returns. Bond and equity investment in these markets from December 2008 to the summer of 2017 totaled $2.35 trillion, data from the Institute of International Finance shows.
