Citi emerging market currency strategists
Currency strategists at Citi see USD/RUB falling to 63-64 from the current 65.42 level, in part because Russia's reasonably dovish central bank will lead to bond inflows.
At the same time, they see the South African rand rebounding after the fall in August before an "important fiscal policy adjustment."
On the flip side, they see the Turkish lira returning to underperformance.
With that, the established a long position in both RUB and ZAR vs TRY.
