The Russian Ruble Is Going Parabolic
Simit Patel | Dec 02, 2014 12:04AM ET
Parabolically down, that is. Below is a chart of the US dollar / Russian ruble exchange rate; as the chart goes up, the value of the US dollar is appreciating relative to the Russian ruble (meaning one dollar will buy you more Russian ruble as the chart goes up). I also found it interesting that the exchange rate mirrors Oil, and both made their big moves right around the time of the third major round of sanctions imposed by the US (along with EU and Canada) that attempted to severely weaken Russian energy firms from obtaining financing from Western sources.
Could the reversal of sanctions be something for traders to watch for as a sign of the reversal in price?
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