RUB under pressure on geopolitics – Danske Bank

Valtteri Ahti, Chief Strategist at Danske Bank assessed the recent developments around the Russian currency.

Key Quotes

“Yesterday afternoon the Russian rouble saw a sudden pressure as geopolitical woes got gloomier”.

“The USD/RUB climbed 1.5% crossing 69.00 and the EUR/RUB hit 80.00 for the first time since early 2016”.

“The governments of France, Germany, the United States and Canada agreed that the operation against the Skripals in the UK was carried out by the Russian military intelligence GRU and it was "almost certainly" approved at the highest level”.

“At the same time during the hearings in the US Senate Committee on banking almost unanimously experts advocated the imposition of anti-Russia sanctions against new issues of Russian government bonds and an expansion of the list of oligarchs who should be punished for Russian foreign policy”.