Yen holds losses, euro surges up as Ukraine woes dwindle
March 18, 2014 8:53 am
The safe-haven Japanese yen nurses its latest peak versus the dollar while the euro stood sturdy on Tuesday as worries on the Ukraine crisis eased temporarily.
Economic sanctions imposed by the United States and the European Union versus Russia after Crimea’s weekend vote to join Russia were viewed as too modest to dramatically rise near-term tensions on the former Soviet republics, trimming demand for flight-to-safety currencies like the yen and the Swiss franc.
The US dollar was stable at ¥101.76, remaining above the latest trough close to ¥101.20 reached on Friday. The dollar gained some support against the yen after US Treasury yields climbed on Monday as safety demand for government debt ebbed.
The euro advanced 0.1% to $1.3934, within reach of a 2-1/2-year high about $1.3967 touched on Thursday on declined anticipations of easing by the European Central Bank. Versus the yen, the euro ascended 0.1% to around ¥141.79.
Following the referendum in Crimea on Sunday, by which an overwhelming majority of voters decided to join Russia, the US and the EU on Monday sanctioned Russian and Crimean officials who took part in the seizure of Crimean region from Ukraine.
The material has been provided by InstaForex Company – www.instaforex.com
The safe-haven Japanese yen nurses its latest peak versus the dollar while the euro stood sturdy on Tuesday as worries on the Ukraine crisis eased temporarily.
Economic sanctions imposed by the United States and the European Union versus Russia after Crimea’s weekend vote to join Russia were viewed as too modest to dramatically rise near-term tensions on the former Soviet republics, trimming demand for flight-to-safety currencies like the yen and the Swiss franc.
The US dollar was stable at ¥101.76, remaining above the latest trough close to ¥101.20 reached on Friday. The dollar gained some support against the yen after US Treasury yields climbed on Monday as safety demand for government debt ebbed.
The euro advanced 0.1% to $1.3934, within reach of a 2-1/2-year high about $1.3967 touched on Thursday on declined anticipations of easing by the European Central Bank. Versus the yen, the euro ascended 0.1% to around ¥141.79.
Following the referendum in Crimea on Sunday, by which an overwhelming majority of voters decided to join Russia, the US and the EU on Monday sanctioned Russian and Crimean officials who took part in the seizure of Crimean region from Ukraine.
The material has been provided by InstaForex Company – www.instaforex.com
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