The Russian ruble bounces back after getting crushed earlier — here’s what’s happening in FX


Good morning!

Things in FX were topsy-turvy early in the morning after the meeting of oil producers in Doha, Qatar ended without a deal.

Petro currencies like the Canadian dollar and Russian ruble both fell in the aftermath, while the yen, often considered a safe-haven, has seen considerable strength.

However, things calmed down a few hours later.

Here’s the scoreboard as of 11:13 a.m. EST on Monday, April 18:

    The Russian ruble is little changed at 66.3991 per dollar after reaching as low as 68.2950 earlier in the day.Similarly, the Canadian dollar is weaker by 0.1% at 1.2832 after falling by 0.8% earlier in the morning. Brent crude is weaker by 3.20% around $41.72 per barrel.TheJapanese yen is stronger by 0.1% at 108.78 per dollar after reaching as high as 108.22 per dollar earlier. “Foreign-exchange traders sought the safety of Japan’s currency as the diplomatic failure threatens to send crude back toward the 13-year lows reached in February,” writes Bloomberg’s Candice Zachariahs.Meanwhile, the Brazilian real is weaker by 1.0% at 3.5838 as President Dilma Rousseff inches closer and closer to impeachment. On Sunday, she lost an impeachment vote in Brazil’s lower house of Congress by a tally of 314-to-110, according to Reuters. Next up, Brazil’s upper house of Congress. If the Senate agrees to proceed with the impeachment, Rousseff will be suspended until her trial concludes.The British pound is stronger by 0.5% at 1.4271. Data compiled by Bloomberg shows the UK just saw its worst quarter for M&A deals since 2010, in part due to the looming Brexit threat. The Chinese yuan closed off 0.1% after the National Bureau of Statistics showed that home prices in China gained in 62 of 70 cities tracked by the government. The dollar index is weaker by 0.3% at 94.46.