The ruble's strengthening on oil

Good morning!

The Russian ruble is surging as oil prices gain for the first time in 7 days.

The currency is up by 1.1% at 65.0880 per dollar while Brent crude oil is up by 2.2% to $48.23 per barrel as of 7:31 a.m. ET.

As for the rest of the world, here’s the scoreboard:

  • The euro is stronger by 0.4% at 1.1265 against the dollar after the latest data showed that wages in the eurozone grew by 1.8% year-over-year in the first quarter.
  • The British pound is up by 0.7% at 1.4297 against the dollar. Separately, the EU referendum campaigns have been suspended following the killing of Labour Party lawmaker Jo Cox.
  • The Japanese yen is little changed at 104.23 per dollar. On Thursday, Japan’s finance minister pumped up his rhetoric about a stronger currency after the yen reached up to 103.55 per dollar.
  • The US dollar index is weaker by 0.2% at 94.38 ahead of data on building permits and housing starts.

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