Euro edges higher but focus still on Ukraine
Telegram forex signals (Reuters) – The euro edged higher against the dollar on Wednesday with investors bracing for further developments in the Ukrainian crisis after Western countries announced sanctions against Russia for ordering troops into separatist regions.
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Satellite imagery over the past 24 hours shows several new troop and equipment deployments in western Russia and more than 100 vehicles at a small airfield in southern Belarus, which borders Ukraine, according to U.S. firm Maxar.
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“Surprisingly, the euro remained stable against the USD despite the risk-off movement, but we assume that this will not be the case for much longer and that the euro will then lose ground accordingly,” he added.
The single currency staged a slight rebound on Tuesday when it approached its lowest since Feb. 3, the day when the European Central Bank’s hawkish shift boosted its exchange rate.
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The euro was up 0.1% against the dollar at $1.1340 after hitting its lowest on Tuesday since Feb. 14 at $1.1286.
But, according to Commerzbank (DE:CBKG) analysts, “monetary policy is taking a back seat, and risk aversion is in the driving seat”.
“If the situation in Ukraine escalates further, EUR-USD could therefore easily make another attempt towards 1.12,” they said in a research note.
The Russian currency fell 0.9% at 79.38 against the dollar.
Dollar Edges Lower Ahead
The dollar index, which measures the greenback against six peers, fell 0.1% to 96.949.
The New Zealand dollar jumped 0.8% after the Reserve Bank of New Zealand raised interest rates and said more tightening could be necessary. Forex Signals – no deal between UK and EU
Safe-haven currencies fall on hopes
Oil prices steadied as it became clear the first wave of U.S. and European sanctions on Russia for sending troops into eastern Ukraine would not disrupt oil supplies.
Dollar Edges Higher Fed in Focus
Euro edges higher but focus still on Ukraine
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