UAH inches towards 23/USD



21 липня 2015 года
ICU

The hryvnia was weak and closed at around 23/USD yesterday with no sign of strengthening toward the 21/USD level seen just one month ago. This week's talks between Ukraine and its private creditors, where expectations are low that a compromise will be reached (even though we reiterate that a compromise is still possible), combined with increased rhetoric that the US Fed will increase interest rates this September, are strengthening the USD in the local FX market. Although news that Tymoshenko has been gaining in the polls (although she is still behind Poroshenko) is weakening the UAH, this implication is unlikely to be fully digested by the local market.

Источник: ICU

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