RUB could resume its soft tone in medium term – Danske Bank

FXStreet (Edinburgh) - In the view of Vladimir Miklashevsky, Economist at Danske Bank, the Russian currency is expected to weaken in the upcoming periods.

Key Quotes

“The overall recovery in the rouble since the start of the year is mostly a result of a stabilisation in global oil prices”.

“However, in our view, the acceleration in the rate of rouble appreciation over the past couple of weeks cannot be justified by the development in oil prices and the general global financial environment”.

“Looking ahead, we expect rouble weakness to resume, driven by significantly higher Russian inflation than in the outside world”.