Safe Haven Currencies Are the Favorite As Ukraine Tension Thicken – 23 February, 2022

Safe haven currencies were in demand causing the euro to weaken amid fears of a full-scale Russian invasion of Ukraine. The greenback hovered just below a one week high against major peers after comments made by U.S. Secretary of State Antony Blinken, believing we would see a Russian invasion of Ukraine within hours. The euro fell 0.2% to $1.12750, its lowest since the first week of February. It dipped 0.29% against the yen to 129.640 yen, nearing Tuesday’s low of 129.360, its weakest since Feb. 3. Against the franc, it fell 0.22% to 1.03550 franc, approaching Tuesday’s low of 1.03405, its lowest since Jan 24. The dollar index was up 0.19% to 96.372 against a basket of major currencies. The Australian dollar dropped 0.33% to $0.72075 and the New Zealand dollar slid 0.41% to $0.67475. Sterling shed 0.08% to $1.35340.