Monday, October 20, 2014

20/10/2014: Ruble: Poisoned, a Touch Less Than Real or NZ Dollar?

Two days ago I wrote about the pains of Ruble devaluations ( and here is an interesting new set of data courtesy of @ReutersJamie which shows positioning in the FX markets. All bearish, except USD, and bearish on Ruble too, but what is interesting is that Brazil Real and NZ Dollar are more bearish... And Ruble, for all its problems is positioned pretty close in line with Euro, which, apparently has no problems (remember, ECB refuses to call this a currency crisis, insisting first it was a debt crisis, now a structural growth crisis, next probably a milk quota crisis):

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