Emerging Market Currencies Under Pressure Amid Global Tariff Uncertainty
Emerging market currencies remained largely subdued as investors awaited clarity on U.S. tariff policies. While Chinese stocks surged following stimulus measures, the yuan saw slight fluctuations due to tariff concerns. Meanwhile, Turkey's central bank was poised for a rate cut amid economic pressures.

On Thursday, emerging market currencies were mostly stagnant as investors sought more information on potential tariffs from U.S. President Donald Trump. In contrast, Chinese stocks rose after the government unveiled new economic stimulus plans.
China announced significant investments from state-owned insurers into stocks to bolster its market. Despite the onshore yuan slipping slightly against the dollar, concerns lingered over Trump's proposed 10% tariffs on Chinese goods set for February 1, though a detailed plan has yet to emerge.
Elsewhere, Turkey's central bank is expected to cut policy rates significantly, supported by data showing easing inflation. Investors are closely watching global political dynamics, including potential new sanctions from Trump amid ongoing tensions with Russia and the Ukraine conflict.
(With inputs from agencies.)
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