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RUB weakness poised to continue – Danske Bank

FXStreet (Edinburgh) - In the view of Vladimir Miklashevsky, Strategist at Danske Bank, the Russian currency is expected to grind lower in the next periods.

Key Quotes

“As we expect the Fed’s first hike in Q1 16, we see it as the big mover for USD/RUB along with other emerging markets”.

RUB still remains vulnerable to oil price fluctuations; however, in the short run, we see the Russian currency being driven more by sentiment towards EM assets than by marginal changes in the oil price”.

“Looking ahead, we expect the rouble weakness to continue although on a more moderate path than seen over the past 12 months, supported by diminishing FX debt redemptions from the corporate side”.

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