USD/RUB advances to highs near 64.30

The Russian currency is now losing the grip vs. the greenback, with USD/RUB testing daily tops in the 64.30/40 band.

USD/RUB up on USD, oil drop

The continuation of the bid tone around the US dollar is pushing spot higher at the beginning of the week, advancing for the second session in a row so far and challenging multi-day highs beyond the 64.00 handle.

Adding to RUB selling, crude oil prices are intensifying its decline today, with the barrel of Brent crude breaking below the $50.00 mark, or session lows.

Nothing expected in the Russian calendar ahead in the week, whereas the speech by Chief Yellen at the Jackson Hole Symposium and flash Q2 GDP figures will take centre stage in the US docket.

USD/RUB levels to watch

At the moment the pair is advancing 0.59% at 64.28 and a break above 64.64 (55-day sma) would open the door to 65.12 (20-day sma) and then 67.17 (high Jul.29). On the flip side, the immediate support is located at 63.41 (low Aug.18) ahead of 62.75 (2016 low Jul.14) and finally 62.04 (low Nov.4 2015).