The Russian ruble advanced today as traders returned to riskier assets, suggesting that they still hope for a positive outcome of the talks about raising the US debt ceiling.
Investors have started to shun higher-yielding currencies as the threat of default was nearing, but it looks like they became optimistic yet again. There are not many market participants who actually believe that a catastrophe will happen and this helps the risk sentiment. Fitch Rating put the US credit rating on a negative watch, but this did not hurt the traders’ mood too much.
USD/RUB ticked down from 32.3046 to 32.2244 as of 12:19 GMT today.
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