Rub Weekly Outlook

Quotes from BofA Merrill Lynch Global Research:

RUB Bullish:

- December is usually a poor month for RUB, as external redemption needs increase. Seasonally, late December to early 1Q usually marks an improvement as external redemptions fall and the trade balance improves.

- We turn tactically long RUB (vs basket) into 1Q, though over the longer term the declining current account and weak economy will keep RUB on a weak footing overallThe material has been provided by InstaForex Company – www.instaforex.com

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