• CBR today held rates at 11.00% as expected, and said inflation & inflation expectations showed clear upward trend
  
  
• It noted that RUB will continue to put pressure on prices in next few months, and added that it will revise rates based on the balance between inflation risks and economy cooling
  
  
• After historical lows near the 72.00 handle posted in August, RUB has managed to regain some ground towards the 64.00 mark late last month along with a recovery in crude oil prices
  
  
• USD/RUB hit session highs at 68.13 post CBR, has then pared some of the gains and is currently trading at 68.09
  
  
• Immediate support is located at 67.90 (4h 20 MA), while resistance on the upside is seen at 68.86 (Sept 10 highs)