Since Paris attack, Rouble is best performing EM currency

Attack by armed militants in Paris, last Friday that left 130 dead and more than 350 injured and bomb plantation in a Russian Passenger plane that left more than 200 dead have brought this two nations closer than ever and after four years' of fighting in Syria, a possibility to end the conflict has seriously arisen.

Still there are significant differences. Russia has announced that it is unlikely to support any plan which includes toppling Russian ally, Bashar-Al-Assad, while US says Assad must go. Nevertheless, possibility of a grand coalition is a reality this time around.

Rouble in response is the best performing emerging market currency, in hope for a grand coalition and ease in relations between Russia and Western powers, which could lead to easing of some sanctions. Rouble is up around 3% against Dollar since Friday.

So this time around its not oil, but politics.

However, this rally could fade soon, if Russia and the West still remain far apart after all the recent negotiations.

Rouble is currently trading at 64.9 per Dollar, however traded as low as 63.5 today.