We reach the end of what has been a pretty dramatic month for FX and not just because of developments on the Swissie. Whilst over-shadowed, other central banks have also been driving FX rates; not only the ECB, but also in Canada and New Zealand. We’ve got more to come, today from Russia and next week from the RBA in Australia. In Russia, the Rouble has been edging ever closer to the 70 level on USDRUB, but interest rates are already at crippling level and it’s the exception rather than the rule that ever rising interest rates resolve a currency crisis, because they end up proving so crippling for the economy. That said, after the last meeting when rates were hiked from 10.5% to 17.0%, it pays to be on guard for another surprise and volatility today when the rate decision is announced at 10:30 GMT. We also see talks starting between Greece and the Eurogroup today. Both sides are sticking fairly firmly to their respective stances, so this could be the start of what will be a process that lasts several weeks. There are naturally big costs on both sides to giving ground. For currencies, there is natural tendency to see greater volatility on the last day of the month as investors square positions and re-balance portfolios to benchmarks. Beyond today’s volatility, there is still scope for the euro to stage a short-term recovery after the recent lows, partly owing to the fact that EURUSD remains in over-sold territory after the recent sharp losses. The Aussie is also worth watching into the RBA meeting next week, and after the push to new lows for the year at 0.7720. Further reading: Fed rundown, GDP outlook, Greek elections analysis and AUD down under – Market Movers #35 Spain grows 0.7% in Q4 2014 – prices fall 1.4% – growth & deflation hand in hand In our latest podcast, we do a Fed rundown analyze the Greek elections and discuss the suffering Aussie Download it directly here. Subscribe to our iTunes page FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Euro-zone sees deeper deflation: -0.6%, core only +0.5% Yohay Elam 8 years We reach the end of what has been a pretty dramatic month for FX and not just because of developments on the Swissie. Whilst over-shadowed, other central banks have also been driving FX rates; not only the ECB, but also in Canada and New Zealand. We've got more to come, today from Russia and next week from the RBA in Australia. In Russia, the Rouble has been edging ever closer to the 70 level on USDRUB, but interest rates are already at crippling level and it's the exception rather than the rule that ever rising interest rates resolve a currency… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.