Ruble May Hit 59/USD if Trump-Putin Talks Constructive: Rabobank
Monday, July 16, 2018 02:49 PM
By Ksenia Galouchko
Russian ruble and local assets would benefit if Trump and Putin make “relatively constructive comments” following their talks, Rabobank analysts including Jan Lambregts say in note.
61 rubles per dollar would be the initial target if today’s meeting proves “relatively productive”; beyond that, analysts say they would aim at 59
Russia has “fully adjusted” to Western sanctions and attempts to isolate it have failed
“While it is unlikely that the U.S. sanctions imposed on Russia will be removed in the near future, we are very cautiously optimistic that perhaps today’s meeting will bring at least some respite to the tense relationship"