The Russian ruble is trading near its strongest this year, supported by tight monetary policy and recent dollar weakness, among other factors. The currency is up nearly 7 percent since the start of the year. Micex, the Russian equity index, is up more than 4 percent since the U.S. election took place on November 8 last year.

“The furor over Russia in Washington DC is more to do with domestic politics in the U.S. rather than Russia but it does prevent the Trump administration from implementing its stated plan of seeking better relations with Russia. It makes that politically difficult if not toxic.”

The U.S. intelligence community earlier accused Russia of interfering in the 2016 election, alleging Russian President Vladimir Putin ordered a campaign to undermine faith in the electoral process and developed a “clear preference” for President Donald Trump.

Recently, a U.S. Senate committee investigating suspected Russian interference in the election will interview President Trump’s son-in-law Jared Kushner, after Russian bank VEB confirmed its executives met Kushner while under Western sanctions.

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