The Russian rouble has been the best performing major currency in February 2015. Respite from a falling oil price and the possibility of a cease fire in Ukraine helped reverse the recent trends; it was the worst performing major currency in 2104 and closed at the end of January at record lows against the US dollar. However market commentators expect the downward trend to continue as desperately needed inward investment is unlikely to be forthcoming given the situation in Ukraine.
The Canadian dollar had an unexpected mid-week drop on Thursday, even following better than expected data from the country; Consumer prices fell 0.2% last month, compared to the greater decline expected and compared to a much steeper drop of 0.7% in January.
Strong data out of New Zealand on Thursday saw the kiwi dollar trading at almost one month highs against the US dollar. The country’s trade balance swung into a surplus of NZ$56 million last month from a deficit of NZ$195 million in December.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.