USD/RUB drops to lows near 64.70 on strong Brent

The Russian currency is now picking up extra pace vs. its American peer, sending USD/RUB to the area of daily lows in the 64.75/70 band.

USD/RUB lower on Brent recovery

The renewed offered bias in the US dollar has been collaborating with today’s decline as well as the recovery in crude oil prices.

In fact, the barrel of Brent crude is gaining more than 1% and trading above the $46.00 mark following the upside momentum in the risk-associated space, all against the backdrop of a broad-based weaker dollar.

On the data front, US NAHB index is due later followed by Russian Retail Sales and the unemployment rate during August.

USD/RUB levels to watch

At the moment the pair is retreating 0.74% at 64.63 and a break below 63.58 (low Sep.8) would aim for 63.41 (low Aug.18) and then 62.75 (low Jul.14). On the other hand, the next resistance lines up at 65.46 (high Sep.13) followed by 65.97 (high Sep.1) and finally 67.15 (high Jul.29).