Dollar jumps and Euro declines over intensified Ukraine situation

Dollar jumps and Euro declines over intensified Ukraine situation (2)

In Asia on Thursday morning, the dollar was higher, with the euro dropping and increasing demand for safe-haven currencies as fears of a Russian invasion of Ukraine grew.

By 11:48 p.m. ET, the US Dollar Index, which measures the value of the dollar against a basket of other currencies, had risen 0.41 percent to 96.580.

For the first time since February 14, 2022, it increased by 0.19 percent to 96.372.

The USD/JPY currency pair fell 0.16 percent to 114.78. Vladimir Putin, the Russian president, has announced a special operation to safeguard Ukraine’s Donbas region.

The AUD/USD pair dropped 0.65% to 0.7186, while the NZD/USD pair dropped 0.72 percent to 0.6723.

The USD/CNY exchange rate increased by 0.05 percent to 6.3172, while the GBP/USD exchange rate fell by 0.18 percent to 1.3518.

Against the euro, the dollar, Japanese yen, and Swiss franc all rose to multi-week highs. After US Secretary of State Antony Blinken indicated he fears Russia would invade Ukraine within hours, the dollar hovered near a one-week high.

The euro dropped as low as $1.12750, its lowest level since February 3. It also lost 0.29 percent to 129.640 yen, close to Tuesday’s low of 129.360. It appears that things are only going to get worse before they get better.

The USD/CHF is on the verge of breaking down to the downside. The pair is breaking past its 200-day moving average at 0.91773, in the process. After sliding below it in Monday’s trade, the pair broke back above it yesterday.

The pair then moved to and through the 200 day simple moving on its approach to a low of 0.9150.

After a day of up and down price activity in the Asian session, and a final surge into its 200 hour moving average that halted ahead of that level, the stock is now trading near its 200 hour moving average.

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