Russian rouble climbs to three-month peak vs dollar

The Russian rouble firmed to a three-month peak against the dollar in light trade on Tuesday, supported by month-end tax payments and high oil prices. At 0735 GMT, the rouble gained 0.5 percent to 57.67 against the dollar after briefly touching its strongest level since October 26 of 57.55.
Versus the euro, the rouble gained 0.6 percent 68.46 , a level not seen since November 8. Moves in the rouble were exacerbated by thin market liquidity In the Christmas week and there were generally supportive factors.
Markets in Australia and Hong Kong remained closed after Monday's Christmas holiday, and many financial centres in Europe were also shut on Tuesday. The rouble usually firms in the second half of every month as export-focused companies convert foreign currency to pay taxes.
Brent crude oil, a global benchmark for Russia's main export, was up 0.1 percent at $65.3 a barrel, it highest since December 12. The rouble also saw support from global speculators who increased their long positions in the Russian currency, VTB Capital said in a note, citing Commodity Futures Trading Commission data.
"Fast money accounts were cutting shorts and building new longs, bringing the net long rouble exposure to its highest level in 2017," VTB Capital said. Russian stock indexes were mixed.
The dollar-denominated RTS index was up 0.05 percent to 1,144 points, while the rouble-based MOEX, previously known as MICEX, was 0.4 percent lower at 2,096.