🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Forex - Euro higher vs. dollar as market tensions ease

Published 03/04/2014, 08:09 AM
Euro regains ground against dollar
EUR/USD
-
USD/JPY
-
EUR/JPY
-

Investing.com - The euro was higher against the dollar on Tuesday as tensions over the crisis in Ukraine eased after Russian President Vladimir Putin said there is "no need yet" to use military force in Ukraine.

EUR/USD hit session highs of 1.3774 and was last up 0.18% to 1.3759.

The pair was likely to find support at 1.3700 and resistance at 1.3791, Monday’s high.

Market sentiment was boosted after President Putin said a Russian military deployment in Ukraine is not needed now but the “possibility” still remains, and added that if Russia takes action it will be legitimate.

The euro built on earlier gains that came after the Russian defense minister ordered troops engaged in military exercises close to Ukraine’s borders to return to their bases.

Market sentiment remained fragile, with Russian forces still maintaining a military presence in Ukraine’s Crimea region. Meanwhile, the U.S. was likely to impose economic sanctions on Russia later in the week, following its military incursion into Crimea.

The common currency continued to remain supported after better-than-expected euro zone inflation data late last week eased pressure on the European Central Bank to tighten monetary policy at its upcoming meeting on Thursday.

The euro was higher against the yen, with EUR/JPY advancing 0.63% to 140.20.

Elsewhere, the dollar was higher against the safe haven yen. USD/JPY rose to session highs of 101.95 and was last up 0.39% to 101.84, moving off the previous session’s one-month lows of 101.19.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.