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Bloomberg
Goldman Sachs Group Inc. models are signaling that some developing-nation currencies have further to fall, even after a slide unprecedented since the financial crisis.
While this year’s sell-off has pushed emerging-market exchange rates into undervalued territory by at least one measure, they are not yet as cheap as in early 2016, analysts at the investment bank including Mark Ozerov and Kamakshya Trivedi note.
Back then, the developing world was being battered by a slump in global oil prices.
Emerging-market currencies are extending losses this month as trade tensions heat up between the world’s two biggest economies and strong economic data from the US increases chances of more
interest-rate hikes.