The prospect of US monetary tightening raises concerns over a rerun of 2013’s ‘taper tantrum’ which caused a sell-off in EM assets Historically, EM central banks have tended to tighten monetary policy in line with the Federal Reserve, to protect the value of their currencies Many commodity exporters experienced sharp falls in their currencies through the pandemic, as a decline in demand lowered both the price and quantity of their exports However, this effect could reverse soon, with commodity prices…