The ruble has updated the lows of 2.5 years and almost reached the 70 mark

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The ruble continued to fall in the course of trading Friday, renewing a 2.5-year lows in a basket of currencies. In addition to the commercially available negative factors that affected the powerful strengthening of the dollar in the Forex market in response to the strong statistics on the labour market. So, the pair dollar/ruble reached the level of RUB 69,80 rose by 0.66%, and EUR/RUB touched a level 80,80 RUB, gaining 0.3 percent.
The Russian currency does not suffer from a lack of bearish factors that went beyond the worsening of Moscow’s relations with the West. Stung by tough sanctions rhetoric, and now by the EU, the ruble is sensitive to the crisis in the emerging economies and the threat of further deterioration of trade relations with China, which has widespread risk aversion. By the way, at the weekend, trump has hinted that he may consider introduction of tariffs for another 267 billion dollars, in addition to discuss 200 billion in relation to China. So from front to vysokoduhovnym, including our currency, it is not necessary to count on easing the pressure.
In such circumstances, the widespread rally in the dollar, which rose on strong employment and wages in the United States, was the “last straw” for the ruble at the end of the week. And despite the fact that, technically, our currency looks to be oversold frankly, the threat of further easing, although the strengthening in oil prices and a pause in the rise of “American” is able to locally relieve pressure on the “wood” if in the near future the West will not arrive ominous signals.
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Igor Kovalyov,
Analyst
InstaForex companies group