Russian rouble turns to rubble: A wild ride for the Russian Rouble overnight with the currency swinging wildly throughout the course of European and North...

David Scutt

Scutt Partners

Russian rouble turns to rubble: A wild ride for the Russian Rouble overnight with the currency swinging wildly throughout the course of European and North American trade. Having opened at 60.907 to the USD, a sharp appreciation on the 65.8975 closing level of Monday, the currency slid to 79.9125 midway through the European session before clawing its way back to 67.815, something that coincided with a recovery in crude prices. Putting the move into perspective the overnight range was the largest in history and was the fourth-largest intraday percentage range since 1996, superseded only by three dates during the currency crisis of September 1998. (VIEW LINK)


David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

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