Goldman Sees Russia Ending Easy Ruble Short-Seller Trade
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Currency traders who have been taking advantage of the Russian central bank’s predictable market interventions are about to find making money a lot harder, according to Goldman Sachs Group Inc.
The bank’s analysts said they expect policy makers will abandon rules-based currency interventions at a meeting today, freeing themselves up to sell enough dollars and euros when needed to support the ruble. The central bank will also raise the benchmark interest rate by half a percentage point to 8.5 percent, they said, in line with the median estimate in a Bloomberg survey.