NBU guides hryvnia inside stability corridor, UAH's TWI down

Макроэкономика 01.07.2015 The NBU intervened yesterday, quoting the UAH at 21/23 per dollar, closing at 21.01, down 0.07% from the previous day, according to Interfax Ukraine. With total trading volume of US$204.99m, the NBU did not disclose how much FX it bought or sold yesterday. The Greek crisis sent mixed signals to FX markets: the Euro slid 0.79% to the dollar, while the dollar index (DXY) rose 0.73% and the ruble increased 0.73%, causing the hryvnia's trade weighted value to decline 0.10%, slightly reversing the past week's appreciation. With the June CPI report due early next week, the hryvnia's real appreciation (+7.2% YTD) could add some impetus, making the hryvnia's current market rate less sustainable over the rest of this year. Our year-end forecast published in the recent macro report is 25/USD.