Top Forecast Says Ruble Rally Headed for Crash

The Bank of Russia’s move toward monetary easing will lead to the ruble sinking by about 9% against the dollar by the end of the year, says the analyst who predicted the currency’s second quarter rally. This according to an article in Bloomberg. The analyst, currency strategist Jaroslaw Kosaty of PKO bank (Poland’s largest bank), said “the negative effects of the Russian central bank’s rate cuts on the ruble will prevail over the positive effects… Read More

JP Morgan: What Currencies to Buy if Recession is Nearing

If a U.S. recession is in the offing, analysts from JPMorgan Chase say it’s time to own Swiss francs, Singapore dollars, U.S. dollars or Japanese yen. This according to a recent Bloomberg article. The analysts, who used currency performance data from the last five recessions, said, “Recessions are when creditors get to ask for their money back,” adding, “Three of the top four currencies to own during a recession are those of countries that boast… Read More

Sweden is Worried About Dwindling Cash

Sweden is experiencing a huge decline in the use of cash, a situation that is starting to worry the country’s authorities. This according to a recent article in Bloomberg. “Sweden is widely regarded as the most cashless society on the planet,” the article reports, adding that most of the country’s bank branches have stopped handling cash and many shops, museums and restaurants now only accept plastic or mobile payments. “But there’s a downside,” the article… Read More