Ruble Gains as Oil Falls: The Correlation is Reversed

Yesterday, the ruble managed to keep resistance levels at 60.50 for USDRUB. During the day, the currency pair lost 0.9%, down to 59.68, as Oil fell by 1.3% to $61.10 per barrel (Brent). This could be viewed as a clear sign of the Russian currency’s strength, as its movements occurred alongside a decline in oil […]