The beating that these countries' currencies have taken as the US Federal Reserve begins to tighten monetary policy is just the start;
1	The	the	DET	RD	Definite=Def|PronType=Art	2	det	_	_
2	beating	beating	NOUN	S	Number=Sing	23	nsubj	_	_
3	that	that	PRON	PR	PronType=Rel	9	obj	_	_
4	these	this	DET	DD	Number=Plur|PronType=Dem	5	det	_	_
5	countries	country	NOUN	S	Number=Plur	7	nmod	_	SpaceAfter=No
6	'	'	PART	PART	_	5	case	_	_
7	currencies	currency	NOUN	S	Number=Plur	9	nsubj	_	_
8	have	have	AUX	VA	Mood=Ind|Number=Plur|Tense=Pres|VerbForm=Fin	9	aux	_	_
9	taken	take	VERB	V	Tense=Past|VerbForm=Part	2	acl:relcl	_	_
10	as	as	SCONJ	CS	_	15	mark	_	_
11	the	the	DET	RD	Definite=Def|PronType=Art	13	det	_	_
12	US	US	PROPN	SP	_	13	nmod	_	_
13	Federal	Federal	PROPN	SP	_	15	nsubj	_	_
14	Reserve	Reserve	PROPN	SP	_	13	flat	_	_
15	begins	begin	VERB	V	Mood=Ind|Number=Sing|Person=3|Tense=Pres|VerbForm=Fin	9	advcl	_	_
16	to	to	PART	PART	_	17	mark	_	_
17	tighten	tighten	VERB	V	VerbForm=Inf	15	xcomp	_	_
18	monetary	monetary	ADJ	A	Degree=Pos	19	amod	_	_
19	policy	policy	NOUN	S	Number=Sing	17	obj	_	_
20	is	be	AUX	V	Mood=Ind|Number=Sing|Person=3|Tense=Pres|VerbForm=Fin	23	cop	_	_
21	just	just	ADV	B	_	23	advmod	_	_
22	the	the	DET	RD	Definite=Def|PronType=Art	23	det	_	_
23	start	start	NOUN	S	Number=Sing	0	root	_	SpaceAfter=No
24	;	;	PUNCT	FC	_	23	punct	_	_
