UAH in managed slide amid dollar strength

UAH in managed slide amid dollar strength



4 грудня 2014 года
ICU

The hryvnia has continued to decline gradually versus the US dollar over the past several days, down 0.52% nominally yesterday according to Bloomberg and 0.53% in weighted average terms. Authorities are guiding the hryvnia marginally lower, realising that the hryvnia's current level versus the US dollar is unsustainable given Ukraine's macroeconomic environment. The North American economies led by the US are faring relatively well versus the other developed and major EM economies. The dollar index (DXY) grew 0.35% on continued expectations of the relative strength of the US versus the Eurozone and Japan. The Euro and yen slid 0.58% and 0.49%, respectively. The Russian ruble rebounded thanks to an aggressive central bank intervention aimed to erase the early morning loss that the ruble suffered yesterday, increasing 1.47%, but will likely to be weak again going forward as the US economy posts more positive macro news. The hryvnia is poised to decline further, albeit in a managed way, in this environment.

Источник: ICU

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