20 Oct 2017
RUB appears supported near term – Danske Bank
Strategist at Danske Bank Vladimir Miklashevsky noted the Russian currency stays supported in the short term.
Key Quotes
“Given the crude price rise, and the RUB’s detaching, we are rolling our RUB levels”.
“High carry and growing demand for Russia’s local debt provide further support for the RUB in the short term”.
“We expect RUB and oil price divergence to prevail on a Brent range of USD52-60/bl”.