Keep an eye on the Russian ruble as it goes parabolic.
- Russian central bank says rouble weakening caused by fundamental factors including falling oil prices and restrictions on access to international capital
- Ready to increase FX interventions to support rouble at any moment
- Also ready to use other financial instruments to support rouble
The rouble is down 37% since July.
USDRUB daily
The Swiss franc and rouble show the difficulty in keeping a currency weaker via intervention versus keeping one strong.