Emerging-market currencies slumped Friday as a blowout US jobs report stoked concern that the Federal Reserve will delay rate cuts beyond March and possibly May. The Turkish lira slid late in the day after the central bank chief resigned.
US nonfarm payrolls increased 353,000 last month, almost double the 185,000 estimate, while previous months were revised higher. Latin American currencies tumbled, with the Chilean peso leading the way, as traders reassess their positions on the likelihood of higher rates for longer.
