RUB come under more selling pressure in coming months – Rabobank

Rabobank analysts note that the Russian ruble has trimmed its year-to-date gains from more than 10% to 6.2% since the trade conflict between the US and China escalated markedly.

Key Quotes

“In the coming months we anticipate that the ruble will come under more selling pressure as protectionist policies continue to spread and the outlook for the global economy worsens, which would have negative consequences for the Russian economy.”

“Apart from the trade war, we discuss in our report various domestic factors which could weigh on the ruble.”