The Russian Ruble firmed against the U.S. dollar in the European session on Monday, as oil prices broke $60 a barrel amid the U.S. stimulus optimism.

Global markets rallied as the progress in vaccine rollouts and the U.S. stimulus plan revived hopes of a faster economic recovery.

As global supplies tighten and the demand outlook improves with the rollout of vaccines, analysts expect to see further upside in oil prices.

The Russian Ruble appreciated to more than a 2-week high of 74.15 against the greenback from Friday’s closing value of 74.61. If the Russian currency rises further, 72.00 is possibly seen as its next resistance level.

The material has been provided by InstaForex Company – www.instaforex.com

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