UAH pauses

Макроэкономика 23.03.2015 The hryvnia increased 6.10% on US$163.24m in trading last Friday, possibly supported last week by the pause in the US dollar that after the unprecedented several month rally that began in July. The global FX market is likely to trade the US dollar so that it flatlines (or even declines) until mid-summer or early fall when the Fed implements its rate increase. If this occurs, the market could be bullish on the dollar again and the hryvnia could experience another wave of devaluation pressure.