NEW YORK ( BBH FX Strategy) -- We do not expect today's outsized declines in Russian assets to be the start of a trend and would be inclined to take the recent moves as an opportunity to establish relative value trades within the emerging markets.In the foreign currency space, we think the Russian Ruble (RUB) can outperform amongst high-beta currencies including the Indian rupee, Turkish lira and South African rand during this pullback in risk appetite. The key difference is the current account balance and oil prices, which are likely to remain supported by geopolitical tensions.
Russian Ruble Expected to Bounce Back in Short Term
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