Ruble Falls as Optimism Retreats from FX Market

The Russian ruble fell today, erasing its earlier gains, as Forex traders felt themselves less optimistic and were reluctant to buy risky assets.

Today’s trading session has started on a positive note as last week’s pledge of European Central Bank President Mario Draghi to support the euro caused optimism that persisted till today. Yet traders has started to wonder whether Draghi are ready to act or the promise was made just to calm public and ease fears. The ruble suffered from the worsening sentiment, while earlier it rose on gains of crude oil, Russia’s chief export.

USD/RUB rose from 32.0415 to 32.1820 as of 18:08 GMT today, while earlier it fell to 32.0365.

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