Investors sold the Russian Ruble on Friday after yet another military escalation by Russia in Ukraine. The currency pair hit a post-1998 high of 37.20 but the losses got trimmed during the end of trading.
I expect the rally in the USD/RUB to continue. The EU has given Russia a 1 week
deadline to reverse course or face new sanctions. While I think that the Russian central bank will step in to stop the losses at some point, I don't think they can ultimately stop the Ruble from depreciating. On Mar…