The dollar will come back under the mark of 57 rubles

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The ruble has finished higher for a second day in a row, and decent. The dollar dipped by almost 1%, approaching the level of 57 rubles, which will be the next rising purpose of our currency. The main positive came from the oil market, where quotations of Brent soared to the highs of the beginning of February, gaining for a trading day over 3.5%.
The ruble did not have to exert a lot of effort for the implementation of further recovery. He just followed the oil rally, getting an additional boost from the weakening dollar, and it’s all fueled by the tax period in Russia. Under the influence of these powerful forces in our currency managed to ignore the geopolitical turmoil. However, and this front came positive signals Europe has signaled that it does not intend to impose new sanctions against Moscow because of the case Skripal.
Today the upward movement of the ruble will continue, at least in the first half of the day. The results of yesterday’s Federal reserve meeting disappointed dollar bulls, who fell across the entire spectrum of the market. The markets were hoping for an increase in the forecast for rates for the current year, but the regulator did not do, than has provoked a massive sell-off of “American”. At the opening of the pair dollar/ruble will win back this factor and are easily willing zanyrnut under the mark of 57 rubles, the more oil held near highs. By the end of session are not excluded partial rollback on the back of profit taking ahead of tomorrow’s meeting of the Bank of Russia.
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Igor Kovalyov,
Analyst
InstaForex companies group