Dollar Up, Euro Falls Against Safe-Havens as Russia acts to “Protect” Ukraine

By Gina Lee

Investing.com – The greenback was up on Thursday morning in Asia, with the euro weakening and elevated demand for safe-haven currencies as considerations of an imminent Russian invasion of Ukraine intensify.

The that tracks the buck towards a basket of different currencies was up 0.41% to 96.580 by 11:48 PM ET (3:48 AM GMT). It rose as a lot as 0.19% to 96.372 for the primary time since Feb. 14, 2022.

The pair edged down 0.16% to 114.78.

The pair fell 0.65% to 0.7186 and the pair fell 0.72% to 0.6723.

The pair inched up 0.05% to six.3172 whereas the pair edged down 0.18% to 1.3518.

Russian President Vladimir Putin introduced a particular operation to “shield” Ukraine’s Donbass (Donbas) area, in line with a TASS report citing a speech. Whereas Putin stated that whereas Russia has no plans to occupy Ukraine, he urged Ukrainian forces to place down their arms and go house and that Russia wouldn’t let Ukraine safe nuclear arms, the report added.

A state of emergency has been declared in Ukraine, and Russia started evacuating its embassy within the Ukrainian capital metropolis of Kyiv. The West reacted by slapping sanctions on Russia, with the U.S. becoming a member of Germany in sanctioning the Nord Stream 2 gasoline pipeline linking Germany and Russia.

The greenback, Japanese yen, and Swiss Franc all climbed in direction of multi-week highs towards the euro. The greenback remained close to a one-week peak after U.S. Secretary of State Antony Blinken stated he believes Russia will invade Ukraine inside hours.

Risker commodity-linked currencies additionally fell, reflecting buyers’ lowering threat urge for food, dropping its resilience from earlier within the week. The euro fell as a lot as 0.26% to $1.12750, its lowest degree since Feb. 3. It additionally fell 0.29% to 129.640 yen, close to the low of 129.360 hit on Tuesday, the weakest since Feb. 3. The one forex additionally slipped 0.22% to 1.03550 francs, approaching Tuesday’s low of 1.03405, the bottom since Jan. 24.

“We’re undoubtedly seeing a knee-jerk response to Blinken’s feedback,” with safe-haven currencies in demand and the euro and commodity currencies bought off, Commonwealth Financial institution Of Australia strategist Joseph Capurso advised Reuters.

“The scenario definitely seems to be like it is going to worsen earlier than it will get higher.”