MOSCOW, Feb 10 (Reuters) - The Russian rouble weakened
against the U.S. dollar and China's yuan on Monday after gaining
14% against the dollar since the start of the year and analysts
it was less likely to strengthen further.
At 0730 GMT, the rouble was down 0.6% at 97.60
against the dollar, according to data from the over-the-counter
market. The rouble weakened 0.3% to 13.28 against China's yuan
on the Moscow Stock Exchange (MOEX).
The rouble has strengthened by 14% against the dollar so far
this year despite new U.S. energy sanctions, on expectations of
easing tensions in the longer term between Russia and the United
States and less demand for foreign currency from importers.
"Although the domestic market continues to exploit the
theme of potential reduction in geopolitical risks, the chances
of achieving stronger levels for the rouble exchange rate are
more likely decreasing," said Denis Popov from PSB bank.
The rouble also received support from a 17% increase in
sales of the Chinese yuan by the central bank that took effect
on February 7. The regulator intervenes on the forex market to
ensure there is enough liquidity.
One-day dollar/rouble futures, which trade on MOEX and serve
as a guide for the over-the-counter exchange rate, were flat at
98.80. The Russian central bank set the official exchange rate
at 97.28.