March 7 (Reuters) - The Russian rouble traded in a

narrow range against the U.S. dollar on Friday, largely

consolidating gains made in the previous session as geopolitical

developments continue to dominate investor sentiment.

The rouble is up against the dollar this year, mostly thanks

to expectations of improved relations between Moscow and

Washington that could produce some kind of conflict resolution

in Ukraine and a possible easing of sanctions against Russia.

By 0812 GMT, the rouble was down 0.4% at 89.35 to the

dollar in over-the-counter market trade. In the last week, the

Russian currency has gradually pulled back from a more than

six-month high reached in late February.

Against the Chinese yuan, the most traded foreign currency

in Russia, the rouble was down 0.2% to 12.30.

"The news background is likely to remain moderately positive

in the short term," said Promsvyazbank analyst Denis Popov.

The rouble could see a new wave of strengthening should

exporters decide to start preparing for large month-end tax

payments earlier than usual given the rouble's relative

strength, he added.

Brent crude oil, a global benchmark for Russia's

main export, was up 0.8% at $70.02 a barrel, after falling to

its lowest level since late 2021 earlier this week.