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- USD/RUB rose to all-time high around 90.00 on war jitters
USD/RUB rose to all-time high around 90.00 on war jitters
- USD/RUB clocked record tops around the 90.00 mark.
- Russian stocks retreat nearly 50%, the largest drop on record.
- The Russian central bank (CBR) will start FX intervention.
Following the Russian attack on Ukrainian soil, the ruble depreciated to all-time lows vs. the dollar and lifted USD/RUB to the 90.00 region on Thursday.
USD/RUB now looks to the CBR
The ruble remains well on the defensive following the recent geopolitical events, pushing USD/RUB to an all-time peak around the 90.00 mark on Thursday.
The start of the Russian invasion to Ukraine sparked a wave of selling pressure on Russian stocks, forcing the MOEX index to retreat nearly 50% after resuming operations.
In addition, the Bank of Russia announced it will start FX intervention in order to prevent a crisis in the domestic currency.
USD/RUB levels to watch
So far, the pair is up 5.09% at 85.62 and faces the next hurdle at 90.00 (all-time high Feb.23). On the downside, a breach of 80.41 (monthly high Jan.26) would aim for 76.01 (55-day SMA) and finally 74.25 (monthly low Feb.10).
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