MOSCOW: The Russian rouble pared losses in volatile trade on Friday, strengthening slightly as recovering oil prices overshadowed fears of renewed lockdown measures as coronavirus cases jumped in the United States.

By 1512 GMT, the rouble was 0.2% stronger against the dollar at 70.79 and had lost 0.1% to trade at 80.10 versus the euro.

Brent crude oil, a global benchmark for Russia's main export, was up 1.1% at $42.82 a barrel.

According to a Reuters tally, the United States reported a record-breaking number - 60,500 - of new COVID-19 infections on Thursday, fuelling fears of more restrictive health measures that may harm the economic recovery and limit appetite for risk.

In addition, the United States on Thursday imposed sanctions on the highest-ranking Chinese official yet over alleged human rights abuses against the Uighur Muslim minority, a move likely to further ratchet up Sino-US tensions.

"It's all about COVID-19 - both fears and hopes," said BCS Global Markets, noting that Brent was susceptible to the mix of positive and negative headlines, but offering some cause for optimism.

"Following recent weakness, expect the hope card to be played heading into the weekend, albeit gingerly."

The rouble has come under pressure this week from a fall in daily sales of foreign currency by the finance ministry and investors' continued conversion of rouble dividend payouts into foreign currency.

In a report published on Friday, the central bank said capital outflows for the first six months of the year stood at $28.9 billion and its current account surplus for the same period was $22.3 billion.

Russian stock indexes were higher on Friday, also paring losses. The dollar-denominated RTS index was up 0.6% to 1,241.7 points. The rouble-based MOEX Russian index was 0.3% higher at 2,790.0.