Rouble rebounds from weakest levels vs dollar since March

Adds quotes, detail, updates prices

MOSCOW, Sept 30 (Reuters)The Russian rouble firmed on Wednesday ahead of government bond auctions but remained near recent lows under pressure from mounting risk aversion.

Russian assets have come under selling pressure this week from fears the country would be dragged into the military conflict in the South Caucasus.

“An important point is that the recent rouble weakness is not a response to a deterioration in fundamentals but a reflection of growing geopolitical risk,” Alfa Bank said.

At 0905 GMT, the rouble was 0.9% stronger against the dollar at 78.37 RUBUTSTN=MCX, heading away from its weakest point since late March of 79.9750 it hit on Tuesday.

Rising coronavirus cases at home also weighed despite Russia saying it has completed clinical trials of a second potential vaccine against COVID-19.

The rouble is seen floating within a range of 78-79 against the dollar

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Demand for used cars in wholesale market levels off

Picture: Lorne Campbell / Guzelian
Manheim Motor Auctions at Rothwell, West Yorkshire.

Demand for used cars in the wholesale market is levelling off in the wake of the initial surge experienced following the lockdown.

That’s the view of Cox Automotive which said values remain strong, but it expected values of older and poor condition cars to reduce.

In the used wholesale market, demand shows signs of levelling off with retailers being more selective as the initial pent-up demand seen in between June and August slows down, according to Philip Nothard, Cox Automotive customer insight and strategy director.

Nothard added: “Used car values remain strong, with just a slight fall after the abnormal rise in values witnessed during August.

“Used car prices remain healthy following a rise of 3.9 indexed points, as supply aligns with demand. We saw that supply returned to mid-July volumes

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