South African Rand Leads EM Currencies Down

        8:41 EDT - The dollar's rising across the board against emerging-market currencies after the better-than-expected jobs report. While April's growth probably won't be enough to significantly alter the Fed's path, it's dousing some cold water on the recent EM rally. The South African rand is one of the biggest decliners as analysts point out the country's interest rates are still too low to compensate investors for the country's economic weakness and policy uncertainty. However, Alan Ruskin of Deutsche Bank says a sub-300K number means the pop in currency volatility may only last a couple of days. The dollar is up 0.5% at ZAR10.5353. (nicole.hong@wsj.com)
        (END) Dow Jones Newswires

        May 02, 2014 08:41 ET (12:41 GMT)