Emerging Currencies Trade Mixed With Middle East War in Focus

Emerging-market currencies traded mixed on Monday, with global risk appetite wobbling as investors monitored the prospects for the US and Iran to agree on a deal to end the war.

Currencies from Mexico and Brazil edged higher, erasing earlier losses as the greenback fell. Meantime, Chile’s peso dropped 0.6%. Oil prices rose after President Donald Trump said the Strait of Hormuz will remain blockaded for now, and an extension to the ceasefire that expires Wednesday is unlikely, even as he sent negotiators to Pakistan. The Korean won and South African rand were among the biggest laggards.