When you grow up and how much the ruble will strengthen the dollar

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Yesterday, quotes of the currency pair US dollar / Russian ruble has reached the highs from April 2016 (at the moment, the sale price exceeded 70 rubles 38 kopecks per dollar).
Such a rapid weakening of the national currency was promoted by a number of both fundamental and technical factors. Here are some of them: reducing the interest of foreign speculators to rouble of the Russian assets because of the threat of new sanctions from the United States, implying a ban for U.S. residents to buy our debt (OFZ new releases, etc.); the objective profitability of a cheap rouble for domestic producers and exporters, but also the budget of the country; the absence of a constraining political factors (presidential elections were held in spring) and many more that the list would be long.
All of these factors continue to operate today. At the same time, factors supporting the ruble, there is little, or they have no noticeable effect on the course. For example, the stabilization of oil prices and the rate increase to our Central Bank did not help the ruble strengthen.
Now as for the pair USD/RUR is a small decrease the price of the dollar fell below 70 rubles. But this caused only partial fixation of profit on previously open positions. And the pullback will not last very long: all the factors working against the ruble, remain in force. And can be added to them new.
In this regard can be expected in the next day or two a small correction in the district 69.10 – 40, followed by the resumption of growth of the dollar with the immediate goal 70.70-71.00.
At the time of writing of this review, the USD/RUR was quoted at 69.73 (sale price Bid).
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Andrew Perekalskiy,
The trader-analyst,
Finist