RUB still bullish long term – Danske Bank

Strategist at Danske Bank Vladimir Miklashevsky noted the RUB keeps the constructive perspective in the longer run.

Key Quotes

“The geopolitical tensions surrounding the Ukraine crisis are again out of the main news but any serious escalation could weaken the RUB. A more hawkish Fed monetary stance in early 2017 could weigh on the RUB further”.

“Russia’s currency was a top-three performer among 150 global currencies over the past 30 days. We continue to be moderately bullish on the RUB in the long term. However, the political risk and possible intensification of Western sanctions (this time possibly linked to Syria) should be constantly kept in mind, as possible ‘black swan’ events could prevail over fundamentals”.