#USDRUB @ 61.7750 : Exceptional Rouble gains from this year to reverse gradually – MUFG
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The Russian Rouble has been one of only a handful of EM currencies that has outperformed the US Dollar this year. Economists at MUFG Bank expect the exceptionally strong gains for the RUB to reverse in the year ahead.
“Even after the recent correction lower, the US Dollar remains at significantly overvalued levels against other major currencies leaving scope for further weakness in the year ahead. At the same time, we expect the Rouble to weaken in the year ahead following the sharp gains between March and June of this year.”
“We expect the exceptionally strong gains for the Rouble this year to reverse in the year ahead driven in part by curtailed energy export revenues (sanctions + lower prices) and a further easing of capital controls.”
[/s2If]
Join Our Telegram Group
