The Russian rouble slipped on Wednesday as global risk aversion increased on political uncertainty related to a formal impeachment inquiry against US President Donald Trump and lingering US-China trade tensions.
The United States announced fresh Iran-related sanctions on five Chinese individuals and six entities, damping hopes for a swift resolution to the US-China trade war.
At 1603 GMT, the rouble was 0.4% weaker against the dollar at 64.23 after earlier falling to a one-week low of 64.49. The dollar rebounded as investors were drawn to safe-havens a day after the launch of a formal impeachment inquiry against US President Donald Trump.
Versus the euro, the rouble gained 0.25% to 70.3, having touched its highest level since March at 69.92 on Tuesday. The rouble's losses were limited by demand related to weekly auctions of OFZ treasury bonds by the finance ministry. Such auctions usually prompt market players to convert foreign currency to buy the country's sovereign debt. Foreign investors hold around 30% of all OFZ bonds issued by the Russian finance ministry.
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