Russian Ruble Weakens To 1-1/2-month Low Versus U.S. Dollar
May 04 2017 - 2:59AM
RTTF2
The Russian Ruble drifted lower against the U.S. dollar in the
European session on Thursday, as oil prices weakened following a
data showing a modest fall in crude inventories last week.
Data from the U.S. Energy Information Administration showed that
US stockpiles fell by 930,000 barrels to 527.8 million last week,
less than the 2.3 million-barrel draw forecast by economists. The
data renewed skepticism over output cuts by the OPEC to rebalance
oil market.
The Russian Ruble slid to 57.77 against the greenback, its
weakest since March 22. If the Russian Ruble extends fall, 59.00 is
likely seen as its next support level.
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