Emerging FX Gauge Jumps to Six-Month High on Easing Trade Fears

A gauge of emerging market currencies jumped to the highest in almost seven months and its stocks counterpart advanced for a third day on growing optimism the worst of President Donald Trump’s trade war is over.

The Malaysian ringgit and Taiwanese dollar led the advance as the White House said Trump is on track to ease the impact of his auto tariffs. That’s added to signs that the punishing levies he threatened in early April will be further unwound.