The Russian ruble is currently “undervalued” and has the potential to strengthen by over 10 percent against the US dollar, according to the Chief Investment Officer of Saxo Bank Steen Jakobsen.
“Trading the USD/RUB [dollar/ruble] pair is relatively easy because we know where to stop: if the close was above 83 rubles per dollar for two days in a row, then you have to go out. But for now, I would take long positions against the ruble, because in the long term, the exchange rate may strengthen up to 65–66 rubles,” Jakobsen said in an interview with RIA Novosti.
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