Global Currency Armageddon: Deutsche Bank suspends New York head of emerging markets forex desk!!! Ruble, Norwegian Krone falling and Hungarian Forint is getting smoked!!!
January 30th, 2014
Russian Market @russian_market · 13 min
Russian Ruble continues sliding to USD.
– Hike the rates!
Asia Declines As Emerging Market Currencies Slide Again
It looks like it could be another interesting session. The big event overnight was the release of the Chinese PMI report, which confirmed further weakness in China’s manufacturing economy, a fact that bodes ill for vulnerable emerging markets that thrive by selling commodities and other goods to China.