EM Currencies Already Pare Losses After Jobs Report

        9:14 EDT - Emerging-market currencies are already bouncing back after a stronger-than-expected U.S. jobs report, with the Mexican peso, South Korean won and Brazilian real even turning positive on the day against the dollar. "The market is still not too concerned about any major shift in U.S. monetary policy," said Clyde Wardle of HSBC. "Whatever kneejerk reaction we saw in emerging markets has completely unwound." Also, keep in mind that stronger U.S. growth is actually good for emerging markets in the medium-term because it means the U.S. will be buying more exports from these countries, which boosts their currencies. USDBRL at 2.2290, down 0.2%. (nicole.hong@wsj.com
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        (END) Dow Jones Newswires

        May 02, 2014 09:14 ET (13:14 GMT)