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RUB appears supported into 2016 – Danske Bank

FXStreet (Edinburgh) - Strategist at Danske Bank Vladimir MIklashevsky sees the Russian currency picking up pace in 2016.

Key Quotes

“As we expect the Fed’s first hike in December 2015, we see it as the big mover for USD/RUB volatility along with other emerging markets”.

RUB still remains vulnerable to oil price fluctuations and the pressure is accumulating; 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”.

“We expect a short-run rise in RUB’s volatility. Yet, in the long run, we see support for Russia’s currency from diminishing FX debt redemptions from the corporate side in 2016”.

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