The new era of unpredictability, marked by tariff threats and rising global tensions, is prompting emerging market investors to look for shelter in frontier markets that are relatively safe from U.S.

Emerging-market currencies climbed during the first week of Donald Trump’s second term, helped by a softer-than-expected rollout of US tariffs and the absence of new levies on Chinese imports. The benchmark index for developing-nation currencies rose 1.

The new era of unpredictability, marked by tariff threats and rising global tensions, is prompting emerging market investors to look for shelter in frontier markets that are relatively safe from U.S.