At 0742 GMT, the rouble was 0.3pc weaker against the dollar at 62.59, falling from the high of 62.15 reached on Friday.
The rouble lost 0.2pc to trade at 69.73 versus the euro.
A "phase one" trade deal between the world's two largest economies was reached last week, boosting investors' global appetite for risk and therefore Russian assets, but scant details on timings has seen a retreat on those positions, analysts said.
"Optimism brought about by the agreement between the United States and China on trade issues is gradually coming to nothing," said Anton Startsev, chief analyst with Olma Brokerage.
Brent crude oil, a global benchmark for Russia's main export, was down 0.6pc at $65.7 a barrel.
In focus domestically on Wednesday is the placement of two OFZ treasury bonds by the finance ministry, which usually prompt foreign investors to buy Russia's currency.
Yields on Russia's 10-year treasury bonds, which move inversely to their price, were hovering near an 11-year low of 6.29pc, after the central bank lowered its key rate to 6.25pc last week.
However, support for the rouble could be lower than usual after the central bank said on Tuesday that foreign inflows into OFZ bonds had fallen by 93.6pc in November, in part because of fewer placements at auctions.
Russian stock indexes retreated from the multi-year highs reached on Tuesday.
The dollar-denominated RTS index was down 0.5pc to 1,513.8 points.
The rouble-based MOEX Russian index, which hit an all-time high on Tuesday, was 0.2pc lower at 3,007.7 points.