The Russian ruble stayed southbound as threats of more sanctions from the developed world weighed on sentiment, sending the USD/RUB pair to a 12-week high on 29 July.
The US President and European leaders agreed on Monday to widen the net of sanctions against Russia’s financial, defence and energy sectors in retaliation for its involvement in Ukraine.
USD/RUB rose to 35.77 on Tuesday, its highest since 6 May, from the previous close of 35.56. The pair has been on a rising trend since 27 June, when it touched a six-month low of 33.55.
The ruble has weakened more than 6.2% against the US dollar since then.
via IB Times
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