Ruble Gains With Oil as Hedge Funds Increase Currency Bets
- Net long ruble positions rise in week, CFTC data show
- Bonds climb, with yield on five-year notes extending decline
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The ruble rose as oil headed for the first monthly gain since October and hedge funds increased bets the Russian currency will strengthen.
The ruble advanced 0.8 percent to 75.62 per dollar by 5:45 p.m. in Moscow, paring its monthly decline to 0.4 percent. Brent crude gained 1.7 percent to $35.71 per barrel in London on Monday, heading for a 3 percent gain in February.