Year of the ruble: Commodities to push Russian currency higher in 2021, Saxo Bank predicts ...News

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Year of the ruble: Commodities to push Russian currency higher in 2021, Saxo Bank predicts
source : Russia Today ( News ) () 8
The Russian ruble is currently “undervalued” and has the potential to strengthen by over 10 percent against the US dollar, according to the Chief Investment Officer of Saxo Bank Steen Jakobsen. “Trading the USD/RUB [dollar/ruble] pair is relatively easy because we know where to stop: if the close was above 83 rubles per dollar for two days in a row, then you have to go out. But for now, I would take long positions against the ruble, because in the long term, the exchange rate may strengthen up to 65–66 rubles,” Jakobsen said in an interview with RIA Novosti.  He noted that 2021 will be the “year of commodities,” where "Russia has large

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