Russian Ruble Jumps To 6-day High Against US Dollar
September 03 2009 - 5:50AM
RTTF2
Bouncing back from yesterday's 15-day low, the Russian ruble
advanced to a 6-day high of 31.6055 in early New York trading on
Thursday. This was up by more than 1.15 percent from Wednesday's
close of 31.9795. The next upside target for the ruble is seen
around the 31.5 level.
Russian service sector activity improved in August for the first
time since September 2008, the VTB Capital and Markit Economics
said today.
The headline seasonally adjusted Russian services Purchasing
Managers' Index or PMI increased to 52.2 in August from 48.5 in
July. This was the first increase in service sector after ten
consecutive months of contraction.
A PMI reading below 50 indicates contraction, while a reading
above 50 signals expansion.
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