3 Feb 2015
USD/RUB drops to the mid-66.00s
FXStreet (Edinburgh) - The greenback is retreating across the board today, helping the Russian ruble to regain some ground lost and dragging USD/RUB to lows around 66.50.
USD/RUB retreats from highs
The Russian currency accelerated its depreciation vs. the greenback to the area of 71.80 last week, following the CBR 200 bp rate cut and the decision by agency S&P to downgrade Russian debt to ‘junk’ status. The USD started on a soft tone this week, giving some oxygen to the risk-associated universe and thus helping the ruble to leave behind recent lows.
USD/RUB key levels
At the moment the cross is losing 2.8% at 66.43 with the next support at 63.81 (low Jan.26) and then 62.93 (low Jan.23). On the upside, a break above 70.67 (high Feb.2) would expose 71.93 (high Jan.30).
USD/RUB retreats from highs
The Russian currency accelerated its depreciation vs. the greenback to the area of 71.80 last week, following the CBR 200 bp rate cut and the decision by agency S&P to downgrade Russian debt to ‘junk’ status. The USD started on a soft tone this week, giving some oxygen to the risk-associated universe and thus helping the ruble to leave behind recent lows.
USD/RUB key levels
At the moment the cross is losing 2.8% at 66.43 with the next support at 63.81 (low Jan.26) and then 62.93 (low Jan.23). On the upside, a break above 70.67 (high Feb.2) would expose 71.93 (high Jan.30).