Ruble rises against the dollar for a fifth day what is happening with the currency?
The Russian currency rose for the fifth consecutive session, recently receiving additional recharge from the sharp recovery of the interest risk. Positive tweets trump on the topic of the meeting with the Chinese leader, combined with dovish rhetoric of the ECB and the fed-inspired investor, pushing for growth assets emerging segment, including the ruble.
Against this background, the pair dollar/ruble, which yesterday pierced the mark 64 RUB for the first time in nearly two months, is kept under the psychological level, the lows a little below the area 63,90 RUB In the Forex market American currency stays under moderate pressure, pending the outcome of the meeting of the Federal reserve, which is expected to confirm softening of rhetoric in light of the recent dovish statements by officials and weak economic data from the United States. This plays into the hands of “Russian” that is also gaining in tandem with the Euro, affected by the soft tones of Draghi.
Before the announcement of the outcome of the fed meeting trading activity is likely to be low. To respond to the key event, the ruble will be on Thursday. If markets are not enough “softness” from the controller, the dollar could be strengthened everywhere, that promises the return of the pair beyond the level 64 RUB with the primary goal 64,20 RUB the oil factor, it is our currency still does not react, although the instability of quotations restrains the bullish potential of the ruble.
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