MOSCOW, Aug 10 (Reuters) - The Russian rouble was stable on early trade on Thursday, under the pressure from geopolitical tensions between the United States and North Korea but supported by rising oil prices.
Most emerging market currencies outside Asia were down after U.S. President Donald Trump's warning North Korea faced "fire and fury" if it threatened the United States and Pyongyang's response that it was considering a missile strike near Guam.
The rouble on Wednesday was under pressure too, but the growth in the oil price saved the currency from a deeper fall, which showed some emergency currencies.
At 0743 GMT, the rouble was 0.07 percent stronger against the dollar at 59.94 and had gained 0.42 percent to trade at 70.27 versus the euro.
Brent crude oil, a global benchmark for Russia's main export, was up 0.42 percent at $52.93 a barrel, the highest value since May 25.
"We continue to see foreign accounts taking spikes in the (dollar/rouble) as an opportunity to sell rouble rates, so potentially limiting the room for a correction in rouble, given the stable oil," VTB Capital said in a note.
But geopolitical tensions will continue to be a risk for global markets.
If the escalation of the conflict between the United States and North Korea does not go further, the rouble will remain in the range of 59.5-60.5 versus the dollar, Binbank said in a note.
The rouble is also under pressure from monetary policy. Russia's economy ministry saw inflation slowing to 3.3-3.6 percent year-on-year in August that increases the possibility that the central bank will cut the key rate.
Russian share indexes were up.
The dollar-denominated RTS index was up 0.53 percent to 1,041 points, while the rouble-based MICEX was 0.16 percent higher at 1,979 points.
For rouble poll data see reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/fx-polls?RIC=RUB=
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Russia in graphics: link.reuters.com/dun63s (Reporting by Polina Nikolskaya; additional reporting by Vladimir Abramov Editing by Jeremy Gaunt.)