Russia weighs return to US Dollar settlement system – Bloomberg

💡 DMK Insight

Russia’s potential pivot back to US Dollar settlements could shake up global forex dynamics. This move signals a significant shift in Moscow’s economic strategy, especially as it had previously aimed to reduce reliance on the dollar. For traders, this means increased volatility in currency pairs involving the Ruble and the Dollar. If Russia follows through, expect a ripple effect across emerging markets that have also been exploring de-dollarization. Watch for technical levels around key support and resistance points in USD/RUB, as a shift back to dollar settlements could strengthen the dollar’s position, impacting commodities priced in dollars as well. On the flip side, this could also spark skepticism among those who believed in a long-term trend away from dollar dominance. Keep an eye on geopolitical developments and how they might influence market sentiment. The immediate impact could be felt in the forex market, but the long-term implications will depend on how other nations react to this potential reversal. Monitor the USD/RUB pair closely for any breakout or reversal patterns in the coming weeks.