(Adding details, quotas, updating prices)
MOSCOW, Dec. 25 (Reuters) – Russia’s ruble slipped from a week-high high in light trading on Friday as investors focused on the threat of new sanctions against Russia.
After climbing to 73.63 against the dollar in early trading, the ruble lost 0.3% on the day to 74.14 against the green as 1324 GMT.
The threat of sanctions has been denied this month after the United States vowed to retaliate against a major hockey campaign that reportedly involved Russians.
Washington is also urging European alliances and private companies to suspend work that could help build the Nord Stream 2 natural gas pipeline and is preparing broader sanctions on the Russian project. in the coming weeks.
Concerns about sanctions are getting worse, but the Ruble has a chance to hold on to its recent gains to trade around 73-74 per dollar at the end of the year, said Dmitry Polevoy, head of investment at Locko Invest.
In 2021, the Ruble could go to 68-70 against the dollar thanks to fundamental factors, said Rosbank, a subsidiary of Societe Generale.
The Ruble had been trading at around 61 to the dollar in early 2020 before the COVID-19 pandemic hit.
Against the euro, the Ruble grew 0.3% to 90.35.
Russian stock indices were mixed. The dollar-denominated RTS index slipped 0.1% to 1,376.8 points. The Russian MOEX index was 0.2% higher at 3,243.4 points, after peaking at 3,318.39 last week.
Shares in major gas Gazprom were impacting the market, falling 0.6% on the day and widening the previous day’s losses, said Sberbank CIB analysts led by “regulatory fears about Nord Stream-2 sanctions. ”
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Reporting by Andrey Ostroukh; Edited by Hugh Lawson