Ruble: further recovery in question

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Well the ruble grew at auction on Monday, greatly speeding up the rise in the last hours of trading. In the end, the pair dollar/ruble, which started directly under the mark of 63 RUB, finished on the lows of the current month in the area of 62,50 RUB.
The Russian currency benefited from the General increase in the attractiveness of risky assets. Partial recorrelate oil has increased the influence of global investors ‘ attitudes toward risk.
Against the background of trade wars, the ruble has become more sensitive to respond to signals from that front, although the intervention of the Ministry of Finance under the budget rules distort his behavior, constraining the growth potential of the currency. Oil, despite the loss of its former ties between the two assets, still propping up “the Russian”.
Interest is also fueled by the ruble in anticipation of meetings between Putin and trump. But the story of another poisoning in Britain, which again is attributed to Russia, is not reflected in the exchange rate. However, if Moscow will continue to roll the charges from London and the world community, in the short term this will negatively affect future attempts recovery of the ruble, the dollar seems to have returned power in the Forex market.
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Igor Kovalyov,
Analyst
InstaForex companies group