Emerging market currencies and stocks all rocketed higher on Thursday after the US Federal Reserve decided to hold off raising interest rates.
EM currencies, as measured by the JP Morgan EM currency index, swung from a loss of 0.5 per cent to a gain of 0.2 per cent immediately after the news.
Within this, the Brazilian real, which sunk as much as 2 per cent to hit a fresh near 13-year low prior to the announcement pared its losses to trade 0.7 per cent lower.
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