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Watching Key Support


Risk-On Of Sorts Supports Oil


Resistance At The 50-Day EMA Remains Exposed

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  • RUB & ZAR making a sizeable turnaround in today's session on the back of some acute USD weakness.
  • While TRY remains the most bid after a bout of morning strength, it has failed to capitalize on this late-session USD selling – reflecting weak investor confidence.
  • USD/RUB made a new daily low below 73.50, but pulled back from Friday's low around 73.40.
    • Backing for Belarus and Lukashenko could see Russia run into Western opposition in the coming days during the EU Summit as countries come down hard on the Ryanair incident.
    • Russia 5Y CDS +3.5bp today
  • USD/ZAR is hovering around 13.92, with Friday's low at 13.89 below, bonds bull flattening with the 10Y leading
  • USD/TRY remains sticky above 8.35, with robust support below at 8.30
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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