The Russian ruble tumbled to a one-week low on Monday, after new figures showed the country’s economy shrinking for the first time in over 5 years.» Read More
Disappointing U.S. data raised concern that the world's biggest economy is losing momentum in the final months of 2014.
The yen rose on Tuesday after Bank of Japan minutes showed the hurdle to further quantitative easing was high.
The euro rose against the dollar and yen on Monday due to encouraging German business data and remarks from a top European Central Bank official.
David Staples, MD of the corporate finance group at Moody's, highlights how sanctions mean that the Russian corporate sector could face "constraints" on funding themselves.
The euro fell sharply on Friday after European Central Bank chief Mario Draghi signaled the organization could launch further monetary easing.
Mikhail Liluashvili, Russia economist at Oxford Economics says the main catalyst driving the MICEX market is "investor settlement" and discusses the three factors contributing to the weak ruble.
The US dollar has recovered from session lows of 117.75 yen, while the euro fell slightly from around $1.255 to $1.245.
Daragh McDowell, senior russia analyst at Maplecroft, says there's "very little" room for the Russian economy to improve when it is still under sanctions from the West.
The greenback will rise steadily against each of its major counterparts in the next year as the Fed looks to raise rates, according to HSBC's David Bloom.
The US dollar was slightly weaker against the euro and the yen after the Federal Reserve released the minutes of last month's meeting.
The U.S. dollar weakened against the euro on Tuesday on a better than expected survey of German sentiment.
The yen recovered from seven-year lows against the dollar but remained under pressure after data showing Japan's economy slipping into recession.
The dollar rallied on Friday, helped by unexpectedly strong U.S. retail sales data and a slide in the yen to seven-year lows.
Dollar moved towards a seven-year high against the yen, driven by speculation that the Japanese Prime Minister will call a snap election.
Soc Gen's Albert Edwards believes the Japanese currency will sink to 145 yen against the dollar by April, forcing devaluations across Asia.
Britain's pound slouched near recent 14-month lows against the dollar as investors pushed back rate-hike expectations to the fourth quarter of 2015.
The dollar climbed to a seven-year high against the yen as Prime Minister Abe is likely to delay a planned sales tax increase.
Jack Ablin, Executive VP & CIO at BMO Private Bank, says traders are eyeing the ruble with "trepidation" as geopolitical uncertainties weigh on the Russian economy.
The dollar fell for a second straight session on Monday in quiet trading as investors took more profits on earlier steep gains.
Andrey Kostin, President & Chairman of the Management Board at VTB Bank, explains why the Russian economy is "comfortable" with a weak currency.