Currency reverses gains after U.S. crude stockpiles increase Bonds gain first time in 11 days as debt auction demand rises The ruble fell for a seventh day and bonds gained as Brent crude trading below $44 a barrel curbed bets the Russian central bank will cut interest rates on Friday. The currency reversed earlier gains and weakened as much as 0.7 percent as oil fell to a near eight-week low after data showed U.S. stockpiles unexpectedly increased. The ruble’s 5.4 percent depreciation over seven days has reduced chances the Bank of Russia will lower the benchmark rate of 10.5 percent at the next meeting on Friday, Rosbank PJSC said. Derivatives traders have trimmed odds on an easing in the next three months, with forward-rate agreements now showing 54 basis points of cuts compared with 61 basis points a week ago, the highest since early June. “There’s not much chance […]