US Markets

Russia's rouble slips on fears over Trump impeachment inquiry, trade tensions

Credit: REUTERS/MAXIM SHEMETOV

The Russian rouble slipped slightly on Wednesday, hurt by U.S.-China trade tensions and the risk of prolonged political uncertainty after U.S. lawmakers called for an impeachment inquiry into President Donald Trump.

MOSCOW, Sept 25 (Reuters) - The Russian rouble slipped slightly on Wednesday, hurt by U.S.-China trade tensions and the risk of prolonged political uncertainty after U.S. lawmakers called for an impeachment inquiry into President Donald Trump.

Democrats in the U.S. House of Representatives on Tuesday launched the inquiry, accusing Trump of seeking foreign help to smear Democratic rival Joe Biden ahead of next year's election, triggering a sell off on the markets.

Trump has also harshly criticised Beijing's trade practices in a speech at the United Nations, damping hopes for a resolution to the U.S.-China trade war.

The decline in the rouble was constrained by support from local month-end tax payments that prompt export-focused companies to convert their foreign currency revenues to meet local liabilities.

At 0707 GMT, the rouble was 0.15% weaker against the dollar at 64.09 RUBUTSTN=MCX and was stable versus the euro to trade at 70.46 EURRUBTN=MCX.

Oil prices fell for a second day on worries that fuel demand could fall after Trump's comment on China-U.S. trade talks. Brent crude oil LCOc1, a global benchmark for Russia's main export, was down 1.2% at $63.36 a barrel.

Russian stock indexes were down.

The dollar-denominated RTS index .IRTS was down 0.8% to 1,347.54 points. The rouble-based MOEX Russian index .IMOEX was 0.5% lower at 2,740.46 points.

For Russian equities guide see RU/EQUITY

For Russian treasury bonds see 0#RUTSY=MM

(Reporting by Vladimir Abramov; writing by Polina Devitt; editing by Deepa Babington)

((Polina.Devitt@thomsonreuters.com; +7 495 775 12 42; Reuters Messaging: polina.devitt.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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