The ruble has recovered and rises against dollar and Euro

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The ruble regained some earlier losses incurred on trading on Monday. The pair dollar/ruble, which at the moment managed to upgrade to 3-week high on the approach to the mark 65,80 RUB, at the end of the session dipped to within 0.5%. Euro/ruble after approaching to the mark of 74 rubles slipped into the area for 73.15 RUB lost for days almost 0.6 percent.
After the initial reaction to the threat of new sanctions, the Russian currency started to recover the loss, and largely due to the increase in oil prices. Brent made a long-awaited breakthrough and now, when the level 69 dollars a barrel behind the quotes is the nearest target in the form of the psychological mark of $ 70.
On the one hand, such sentiments in the commodity segment and a lull on the sanctions front, suggesting a further strengthening of the ruble, especially as on Tuesday Asian stock markets continued to rise and interest risk remains. On the other – the dollar continues to be in demand in the Forex market, which will limit the growth potential of the Russian currency in the short term. After rolling back under the mark of 65.50 RUB the game again entered a level of 65 rubles., which acts as the nearest support.
Gennady Nikolaev
Academy of management Finance and investment