Brazil, South Africa FX Soars as Trump Dials Back Trade War Tone

Currencies from Brazil, South Africa and Mexico outperformed emerging-market peers on Monday as trade concerns eased on a day marked by thin trading volumes, with the US bond market closed for a holiday. Investor appetite for riskier assets grew during the Americas session, with the real and the rand climbing 1.3% each, supported by higher commodity prices and hints that Donald Trump’s administration is open to negotiate with China. Still, the currency gauge fell and the benchmark stock index, heavily we ...