Ruble Falls as Traders Feel Doubts About QE
The Russian ruble fell today on speculations that the US Federal Reserve would not embark on quantitative easing. The current traders’ optimism derived for the most part from hopes on stimulating measures from central banks. Doubts about such steps weaken risk appetite.
The recent positive data from the United States made investors doubt that the Fed would deem QE3 necessary. Prices for crude oil, the main Russian export, slipped, adding to the downward pressure on the ruble. Yet analysts think that the oil prices are high enough to provide support for the currency.
USD/RUB rose from 31.8495 31.9027 as of 14:53 GMT today.
If you have any questions, comments or opinions regarding the Russian Ruble, feel free to post them using the commentary form below.
Earlier News About the Russian Ruble:
- Ruble Rises with Oil & Bonds, Gives Away Gains (2012-08-13)
- Bank Rossii Keeps Rates Steady, Does Not Help Ruble (2012-08-10)
- Ruble Rises as Oil Prices Advance & Borrowing Costs Fall (2012-08-06)
- Ruble Falls as Market Sentiment Poor After ECB Policy Decision (2012-08-03)
- Ruble Falls as Optimism Retreats from FX Market (2012-07-30)