Daily outlook for RUB: Commerzbank

Quotes from Commerzbank Corporates & Markets:

-Although all the fighting in and around the town of Debaltseve and the withdrawal of thousands of Ukrainian troops may appear as mayhem at first sight, the resolution of the very difficult backdrop in the town is one step towards a real cease-fire taking hold.

-In addition, President Poroshenko and the Ukrainian Security Council have come out for the first time saying that they are looking for UN peacekeepers to come to Ukraine. That is a major positive in our view, as it would help hold the ceasefire and appears to be something that all sides would agree to (judging by talks held in Minsk last week).

-Obviously a very tense situation, but a further stabilisation in RUB yesterday, while the weakness in UAH reflects the economic vulnerabilities in Ukraine that should also be resolved with time.