Ruble Gains With Crude as Traders Brace for Fed Rates Liftoff
All Eyes on Yellen as Markets Await Rate Decision
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The ruble strengthened for the first time in three days and Russian bonds rose with stocks as a selloff in crude abated.
The currency gained 0.8 percent to advance to 70.043 as of 6:43 p.m. in Moscow. It earlier slumped as much as 0.7 percent toward its weakest-ever close and is down to 5.1 percent this month. Brent crude, which is used to price Russia’s main export blend, slumped 1 percent before erasing declines and rallying 1.7 percent. Stocks rose the most in three weeks and the yield on five-year bonds dropped from a two-month high.