USD/RUB surges above the 96.40 area amid the Russian Ruble weakness, traders await US PCE data

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• USD/RUB edges higher to 96.40 amid the depreciation of the Russian Ruble.
• The Russian Ruble devalued to a 16-month low due to the economic challenge in Russia.
• Markets believe that the Federal Reserve (Fed) might end the tightening policy sooner than expected.
• Traders will monitor US inflation data ahead of the US Nonfarm Payrolls.

USD/RUB gains momentum for the third consecutive day during the early European session on Thursday. The pair currently trades near 96.40, up 0.27% on the day. The Russian Ruble devalued to over 96 against the US Dollar, a 16-month low due to the economic challenge in Russia