Take Profits on Russian Ruble Short, Deutsche Bank Advises

The Russian ruble, which has moved higher by nearly 9% since late May, might be due for a bout of mean reversion, a Deutsche Bank report notes. With geopolitical risks afoot, the bank is advising clients to sell positions they might have established in late May in a Russian Ruble short position when the currency modeling pointed to an overvalued situation. [icahnebook] After post election trend higher, Russian Ruble Short was good play on valuation In late May, Deutsche Bank currency analysts Gautam Kalani and Chief Economist Elina Ribakova looked at the Russian ruble on a trade-weighted basis, considering a…