Yen glides, takes break from latest run
March 4, 2014 9:00 amVideo
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The yen tumbled versus major counterparts while US and UK equity futures marshaled following a news report that Russian President Vladimir Putin commanded troops to go home after military exercises despite tensions in Ukraine’s Crimea region.
The yen impaired 0.3% to 101.76 to the dollar by 3:45 p.m. in Tokyo following its highest finish since February 5. Standard & Poor’s 500 Index futures leaped 0.6% while contracts on the FTSE 100 Index rushed 0.7%.
A gauge of stocks in emerging markets wiped out decreases as Russia’s Micex Index ascended 2.5% after $55 billion was taken away from the nation’s equities yesterday. The ruble bolstered 0.4% from a record low against the greenback and Poland’s zloty increased. Gold dropped 1% from a four-month peak.
Putin’s instruction came following the exercises close to Leningrad ended as scheduled and the US Secretary of State John Kerry goes to Kiev after Russia told the United Nations its engagement in Ukraine’s Crimea region is legitimate. The crisis drove global stocks down the most in a month and haven assets climbing yesterday. Chinese lawmakers will meet on economic policy starting tomorrow.
Federal Reserve Vice Chairman Nominee Stanley Fischer shows up before the Senate. The yen held profits versus the euro, trading at 139.44 per euro after yesterday’s 0.8% leap.
Russian Open
The MSCI Emerging Markets Index was slightly changed after diving the most since January 27 yesterday as Russia’s benchmark plunged 11%. Kerry’s trip to Kiev, scene of the bloody uprising that precipitated the present crisis, appeared after the leaders of the Group of Seven nations denounced Russia’s actions as an obvious violation of Ukraine’s territorial integrity. Russia denied a report yesterday it had granted Ukrainian navy ships a deadline to capitulate.
Russia’s ruble advanced 0.3% to 50.0130 against the euro and to 36.3565 versus the dollar following the currency finished at a record low yesterday. The Micex is surging for its first increment in six days and its largest bounce since September.
The material has been provided by InstaForex Company – www.instaforex.com
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