Earlier, we reported that various currency brokers such as FXCM and FxPro, would – as a result of the soaring liquidity in the USDRUB pair – suspend trading in the Russian Ruble (while other merely hiked margins to ridiculous levels). It appears things have escalated again, and as FXCM just reported, instead of just politely advising clients not to open new USDRUB position tomorrow, it has advised anyone long, or short, the USDRUB that their positions will be forcibly shut in moments moments.
So for those curious why there appears to be a collapse in Ruble volatility in the past few hours which in turn has sent both stocks and crude higher, the answer is simple: nobody is trading it!
h/t @Paul_Courtney
via Zero Hedge http://ift.tt/1IXVCbj Tyler Durden