• USD/RUB holds in the bullish territory as the Russian/Ukraine crisis unfolds. 
• Volatility picks up in historical events for Russia and Ukraine. 

The Russian ruble is volatile on Monday as the headlines roll in thick and fast regarding the developments at the Kremlin. Russia's President Vladimir Putin has announced his intention to sign a separatist recognition decree over eastern Ukraine regions.

The following illustrates the market volatility on the 1-hour chart and a timeline of how the price has reacted to various stages of the crisis unfolding on a daily basis since November 2021. This was when Satellite imagery showed a new build-up of Russian troops on the border with Ukraine.

USD/RUB H1 chart

USD/RUB daily chart