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USD/RUB Dips Back Below 76.00 as Global Leaders Hold Talks Over Ukraine

RUSSIA
  • USD/RUB trades -0.80% lower this morning on the back of scheduled talks with Lavrov and Blinken next week and a softer greenback.
  • The cross rose +1.38% as markets feared Donbas shelling was a precursor to false-flag operations with the West asserting that Russian troop numbers were rising, despite Russian claims of the opposite.
  • Russia’s response document also came as somewhat of a shock, slamming US diversionary tactics, demanding withdrawal of all US forces from CEE, threatening military technical measures and war in Europe in Ukraine was admitted to NATO.
  • However, the document promised no imminent invasion of Ukraine was coming or had been planned. The wires remain extremely noisy, but the key pivot point is still concrete evidence of troop retracements validated by the West.
  • Putin’s talks with Lukashenko will be monitored for more promises of withdrawal following the Feb 20 conclusion of drills. Meanwhile, Western leaders meet in Munich to discuss the crisis.
  • USD/RUB remains fluid and responsive to headline risks within the current 74.89-77.50 range. Intraday Sup1: 75.5827, Sup2: 75.148, Res1: 76.2144, Res2: 76.8878, Res3: 77.4944
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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