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RUB: 54.0 is done

 
04.06.2015

Yesterday, RUB opened little changed below 53.0, but around noon, Brent plunged 2.0% in price then closed like that after a short-lived bounce. However, even before crude’s swing, the market revealed a decent bid for USDRUB. In light of this, RUB quickly declined to 54.0 against US, which proved to be a solid support level, but in the end even that was passed and RUB closed at 54.2 against USD (-2.5%). Trading activity was rather strong, with MICEX reporting USD 4.7bn in turnover. Meanwhile, negative headlines from Ukraine returned as a factor.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts

Tags:
ruble

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