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)


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.


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).


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.

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