Saudi Devaluation Bets Surge Most In 3 Weeks

Saudi Devaluation Bets Surge Most In 3 Weeks

Tyler Durden’s pictureSubmitted by Tyler Durden on 04/18/2016 14:55 -0400
http://www.zerohedge.com/news/2016-04-18/saudi-devaluation-bets-surge-most-3-weeks

Despite the remarkable recovery in crude oil prices today, traders were not buying the bounce-back in one crucial market. Bets on the future devaluation of the Saudi Riyal surged by the most in 3 weeks today.

The 45 pips drop in 12-month forward USDSAR rates is the 2nd biggest jump in 2 months…

Having rallied back from the January lows – on the back of the worldwide liquidity illusion that floated all boats, the Doha disappointment sparked renewed interest in bets that The Kingdom would be forced to abandon its three-decade peg to the dollar.

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