Dollar and Euro fall on Ukraine Tensions

The dollar weakened Wednesday morning in Asia, while the euro against the dollar reached the weakest level in a month. Investors are still concerned about the possible conflict in Ukraine and watch for the Fed interest rate decision.

  • US dollar index against the other currencies fell 0.01% to 95.920.
  • The yen rose 0.02% to 113.89 yen per dollar.
  • The Australian dollar rose 0.14% to 0.7158.
  • The New Zealand dollar was down 0.06% to 0.6682.
  • The yuan fell 0.08% to 6.3227 per dollar.
  • The pound rose 0.12% to 1.3512 pounds per dollar.
  • The euro was stable at $1.1303.
  • The Canadian dollar rose to 1.2622 Canadian dollars against the US dollar. The Bank of Canada will make its further monetary policy decisions later today.

The main focus remains on the Fed, which will make its monetary policy decisions today. In the night from Wednesday to Thursday (Asia time GMT+7), the interest rate decision will be announced. After that, there will still be the FOMC press conference on it, where market participants are expecting the Fed’s explanations.

On Thursday, the South African Reserve Bank will announce its monetary policy decisions. The Reserve Bank of Australia (RBA) will follow next week.

Western leaders continue to accelerate preparations to launch possible military action in Ukraine. Russia, meanwhile, is showing “deep concern” about threats from the U.S., which has already announced that 8,500 troops are on standby for a Ukraine operation.

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