The strength of the russian ruble might be short-lived

21.08.2017 / 02:01

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The ruble is trading near its strongest level in more than a month against the dollar as Russian exporters sell foreign currency to pay local taxes. The gains may be short-lived: the ruble’s 50-day moving average has broken above its 200-day average for the first time since July 2015, a sign to some analysts of weakness to come. Once the tax season is over, oil-market pessimism will put pressure on the currency of the world’s biggest energy exporter.

Source: Bloomberg Pro Terminal

Trader Bozhidar Arabadzhiev

Varchev Traders

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The strength of the russian ruble might be short-lived

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