Ruble Slightly Positive Amid Lighter Trading Session (RSX) (YNDX)

Yandex (NASDAQ: YNDX) is positive in early trading Tuesday as the Russian ruble gains ground against the U.S. dollar.

At last check, the ruble is going for about 56.64 per U.S. dollar, from a close at 58.5 per U.S. dollar on Monday.

Traders believe Russia's central bank is unlikely to intervene amid volatility in the currency given the light volumes ahead of the New Year's holiday.

The ruble surged earlier on the session which may have come from a sale by one of Russia's state exporters, which were recently ordered to sell part of their overseas revenue to support the currency.

On watch inclue Market Vectors Russia ETF (NYSE: RSX) and Direxion Daily Russia Bear 3X ETF (NYSE: RUSS)

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