USD/RUB reached a fresh monthly low, but bulls charged and lifted the pair near 79.70s By christianborjon USDRUB EmergingMarkets Macroeconomics Technical Analysis Sentiment
f a mixed sentiment trading session. At the time of writing, the USD/RUB is trading at 79.7500, up 0.64%.
In the meantime, US Treasury yields remain higher on Friday, led by the 10-year T-note rising five basis points, sitting at 2.70%, while the buck rose. The, a gauge of the greenback’s value vs. a basket of its rivals, is back below 100, up 0.09%, at 99.844, after reaching 100.189 for the first time since May 2020.
Elsewhere on Wednesday, the Federal Reserve revealed its March minutes. The Fed stated that most participants were eager to hike rates 50 bps if not for Ukraine. The Fed agreed to cap its balance sheet by an amount of $95 billion, $60 billion on US Treasuries, and $35 billion on mortgage-backed securities .
Late during the day, Chicago’s Fed President Charles Evans said that the Fed would probably going to get neutral setting by the end of this year or early next.The USD/RUB upward bias was tested as the price broke below the 200-day moving average at 78.3059. On Wednesday, I noted that “the USD/RUB could aim toward the 200-day moving average
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