The slide in oil prices on the day has weighed on the price of the Russian rouble, with the dollar, euro, and yuan making moderate gains on the day.

• Interfax noted that the dollar was up 30 kopecks on the previous close to 93 roubles per dollar, the first time it hit such a level since March 25.
• The Euro was up 21.5 kopecks to 100.82 roubles per Euro.
• The centra bank also raised its official dollar rate for April 10 by 16.53 kopecks to 92.7463 roubles.
• The rouble will be under some pressure during the day as global oil prices slide back, with Dated Brent now below $90/b.
• The drive down in oil is the result in a slight easing of concerns via a via geopolitical tensions in the Middle East.
• Iran’s Islamic Revolutionary Guard Corps naval forces said that Iran is choosing not to disrupt flows through the Strait of Hormuz in the Persian Gulf, a key choke point for 20% of global oil flows.
• Nonetheless, prices remain highly sensitive to any headlines that could worsen or widen conflict in the region, such as the start of an Israeli operation in Rafah.