Russian rouble hits lowest levels since April 2016 as US sanctions continue to weigh

USD/RUB touches 68.70

The pain continues for the rouble as it is down by close to 1% on the day against the greenback. Further sanctions kicked in on Tuesday inflicting further economic pain on Russia and US officials have said that they "will not hesitate to hit Russia harder".

And Russia's response haven't been too encouraging either - in terms of aiding the rouble that is. This was the only thing they could muster yesterday. With the dollar on the move today, things are likely to get worse before they get better for the rouble.