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USD/RUB spikes after CBR lifts FX repo rates

Source: Thomson Reuters USD/RUB rebounds off lows as CBR lifts FX repo rates for 2nd time in 2 weeks Move to take edge off domestic-funded carry trades into RUB 7-day repos now LIBOR+150 bps from Mon, had been LIBOR+50 b…

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USD/RUB spikes after CBR lifts FX repo rates
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Source: Thomson Reuters


  • USD/RUB rebounds off lows as CBR lifts FX repo rates for 2nd time in 2 weeks

  • Move to take edge off domestic-funded carry trades into RUB 

  • 7-day repos now LIBOR+150 bps from Mon, had been LIBOR+50 bps in late March

  • Pre-weekend squaring up from oversold conditions also kicks in, volumes heavy

  • 50.27/50.228 set to be solid support

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