The US dollar has stabilized against the euro, sterling and yen, where it has been confined to yesterday's trading range, awaiting the FOMC minutes from the July 30-31 meeting later today. Against the dollar bloc and several of the beleaguered emerging markets currencies, like India, South Africa, Indonesia and Turkey, the greenback has extended its gains. A number of emerging markets are taking fresh initiatives to stem capital outflow. Turkey hiked its overnight lending rate yesterday by 50 bp to 7.75% and announced additional (minor) tightening measures earlier today, such as doubling the size of the currency ... (full story)