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Russian rouble, stock market gain after Trump's statement on Russia

The Russian rouble recovered its losses against the dollar, and climbed against China's Yuan after U.S. president Donald Trump warned that he would impose a "very serious tariff" on Russia in 50 days if a deal was not reached on settling pacifically.

According to LSEG's data based upon over-the counter quotes, as of 1605 GMT the rouble had fallen 0.2% at 78.10 against the dollar, after reaching 78.75 earlier in the day. The rouble has gained 45% against the US dollar since the beginning of the year, according to LSEG data based on over-the-counter quotes.

Trump announced on Monday new weapons for Ukraine and threatened to hit Russian export buyers with sanctions. He expressed frustration at Russian President Vladimir Putin over the lack of progress made in ending the conflict in Ukraine.

Artyom Nicholasev, an analyst from Invest Era, said that Trump's performance was below expectations. "He gave the Russian leadership 50 days to come up with an offer and extend the negotiations track. Trump is fond of delaying and extending such deadlines.

The rouble gained 0.8% against the Chinese Yuan, which is the most commonly traded currency in Russia. It had fallen by more than 1% Friday.

According to the Moscow Stock Exchange, after Trump's remarks, Russian stocks rose by 2.7%. (Reporting and editing by Richard Chang; Gleb Bryanski)

(source: Reuters)