We saw recently how venomously Russia reacted to towards the US in the case of the death of an adopted Russian boy who died in the US. Now we must wait on the reaction of Russia after many of their nationals will almost certainly lose much if not all of their deposits in Laiki Bank and probably over 40% in the Bank of Cyprus.
Not sure what this might mean for the FX market, most probably some risk-aversion? Any strong thoughts anyone?