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RUB: USD is king

 
26.09.2014
Yesterday’s session in the Russian exchange market ended on a sour note. RUB lost 0.8% against USD (38.49) and 0.6% vs. BASKET (43.22). Perhaps this was because the export offer has, at least partially, faded away, so RUB surrendered its positions in the first half of the day. However, later we witnessed a continued rise in USD, which strengthened further against DM and EM peers. In particular, the EM FX index weakened 0.7-1.0% yesterday with TRY down 1.3% and BRL closing 1.7% in the red. Meanwhile, DXY firmed 0.3% to 85.26, a fresh high since 2010.
Maxim Korovin, Tatiana Zueva
VTB Capital analyst

Tags:
rouble, dollar, euro

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