The ruble will take advantage of the political impasse in the United States in its order

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The Russian currency has demonstrated impressive growth last week, adding more than 2%. Beginning Monday looks less impressive, although the key factors remain in force. The ruble began the session lower by 25 kopecks against the Euro, falling to 77.54 and lost 18 kopecks against the dollar and reaching 66.41. At the same time, oil remains in a raised position of the end of last week.
It is important that the ruble is back, where was the active sales in November and December, so it is possible that the current situation, market participants will perceive it as a reason to buy the currency on dips.
In addition to oil and the growth of emerging markets, the ruble helps shutdown of the U.S. government: his own problems distract legislators from the topic of sanctions against Russia. Not before them.
Similarly, the British government itself cornered vain attempts to emerge unscathed from the EU – without conflict. Officials of the United Kingdom is simply not up to Russia and, apparently, will not be to the coming months.
At the same time, the shutdown in the US could end at any moment, and then the Russian currency can not hide. The situation is reminiscent of the teacher without his glasses, leaning our school magazine in search of “victims”, which will go to the Board. While points are not found, there is a small respite, but it still does not change.
Throw in the impressive growth in the previous days, as well as the proximity of important support level for the currency, and get likely difficulties for the further advancement of the Russian currency.
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Alexander Kuptsikevich,
Analyst
FxPro