Developing-nation currencies fell for a fourth day, coming within a whisker of erasing all of this year’s gains. A loss of 0.8% this week has left MSCI Inc.’s gauge of emerging-market currencies just 0.3% up in 2023. Anxiety over the Federal Reserve potentially keeping interest rates higher for longer, China’s plans to expand a ban on the use of iPhones and weak German economic data dented sentiment toward riskier assets on Thursday. “Sluggish growth in China, a persistently hawkish Fed and the prospects of stagflation in the Eurozone are not particularly conducive factors for EM currencies,” said Piotr Matys, a ... (full story)