The Russian Ruble has collapsed this morning to its weakest against the USDollar on record. The drop - similar in size to the drop when US and Europe unleashed Sanctions 3.0 - has sent USDRUB to 36.89. Russian stocks are down 2.2% this morning - biggest drop in 3 weeks - and Russian bonds are weaker (10Y +20bps back above 5%). We can't help but think somewhere Shinzo Abe is getting ideas about how to really devalue his nation's currency to competitiveness...
Ruble at record lows against Dollar...
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Charts: Bloomberg
