Expert Commentary

The Russian ruble hit the lowest peak since 2016 by Dmitry Medvedev
Mon, 13 Aug 2018 11:50:54 GMT
Source: Dukascopy Bank AS
 
Wednesday, 08.08.2018, the currency pair USD/RUB shows the unexpected uptrend, which has broken the channel and had been increasing by 22184 pips or 3.50% at that day and still increasing until today with the whole movement increase of 51845 or 8.17 %. The movement has hit the lowest peak for the Russian ruble since 2016.

According to the fundamental news, a huge uptrend was created by new U.S. sanctions against Moscow which drove down Russia's ruble. The reason behind the sanction is that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, which the Kremlin denies.

Dmitry Medvedev, the Russian prime minister commented: "If something like a ban on bank operations or currency use follows, it will amount to a declaration of economic war, and it will warrant a response with economic means, political means and, if necessary, other means. Our American friends should understand that."




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