News > Rouble sell-off slows, dollar resumes rise as Ukraine crisis buffets trade

Rouble sell-off slows, dollar resumes rise as Ukraine crisis buffets trade

Business Standard | 01/03/2022 04:28 PM | Click to read full article

The rouble started the week in dramatic circumstance, plunging as much as 30% to a record 120 per dollar after Western countries and their allies slapped Russia with new sanctions including cutting off some banks from the SWIFT financial network.

The Ukraine crisis has seen traders pare bets for a 50 basis-point rate hike on March 16, with current odds at 11.4%, according to CME's Fed watch tool.