USD rising, RUB appears pegged

Макроэкономика 19.01.2015 Over past few days, the global FX market has experienced increased volatility sparked by the Swiss central bank's decision to abolish the 1.2 ceiling on the FX rate to the euro and introduce a negative deposit rate. In this environment, the euro and CEE currencies rates to the USD declined as the USD rose. In Russia, authorities appear to have pegged the ruble to the dollar at 65/USD. In this environment, the hryvnia's trade weighted value rose 0.15% yesterday and 5.7% YTD.