- Monday saw the Russian rouble continue its downward spiral against the US dollar. New all-time record lows were caused by the latest round of concerns over Western sanctions. This followed on from the sanctions imposed by the US and the European Union on Friday, which are in response to what is believed to be Moscow’s role in the separatist conflict in Ukraine. The newest round of sanctions targets significant Russian oil and energy companies.
- The Canadian dollar gained ground on its US counterpart on Monday following the release of mixed data from the US. However, the US dollar stayed within touching distance of a six-month high as recent weeks’ expectations of an early hike in US interest rates continued.
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