Thursday, July 3, 2014

EES: Ruble on the up vs. the US Dollar

If the US based anti-Russian policy is working so well - why is the USD down against the Ruble since the crisis peaked in March?  Look at the above USD/RUB daily chart.  

Reports indicate the BRICs are forming an anti-USD alliance which wouldn't be really too difficult for them. 

Since EUR/USD seems to be locked into a perpetual 1.30-1.40 range at least for the time being, traders may want to keep an eye on exotics, and particularly emerging exotics such as the RUB, MXN, TRY, CNH, HUF, etc.