Forex - Emerging Europe Closing Summary and Highlights 10 Jan


 16:20 (GMT) 10 Jan

  [Forex Highlights]

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Emerging Europe Closing Summary and Highlights 10 Jan (0100-KLRB-C01)

RUSSIA

Russian assets gained on Tuesday with the USD/RUB briefly falling to 59.8245 and government bond yields decreasing by 6-27bps across the curve (source: Reuters), driven by higher oil prices after data showed that India's fuel consumption was 4.3% y/y higher last month at 16.53mn tonnes and Iraqi Oil minister al-Luaibi said that the country's output might be lowered by 210,000 barrels per day by the end of January.

SOUTH AFRICA

While the rand was generally stable on Tuesday with the USD/ZAR trading in the 13.5915-13.7275 range, most government bond yields nudged down by up to 2bps (source: Reuters).

TURKEY

Turkish assets extended their losses on Tuesday with the USD/TRY climbing to a new record high of 3.786 and most government bond yields rising by 5-18bps (source: Reuters) after Deputy Prime Minister Canikli again said that the economy was "under attack" and parliament voted in favour of the launch of a discussion to support executive presidency.