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Dollar Consolidates Gains, Oil Steadies, Rouble Recovers

From marctomarket.com

The holiday-shortened week has begun. Some causes of consternation have eased. Oil prices are firmer after the pre-weekend recovery. The Russian rouble, where the focus has been greater than the exposure, has continued to recover following signs that China may be willing to offer it more assistance. Its up 5.4% to bring its two-day recovery to 9%. Some pressure on the rouble had been spurred by Rosneft trying to secure $7 bln for a debt repayment. After it made the payment, the selling pressure on the share price and the rouble eased considerably. China and Russia had established a CNY150 bln (~$24 bln), three-year ... (full story)

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  • Category: Breaking News