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As the Ukraine conflict disrupts trading, the ruble sell-off pauses and the dollar recovers

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News Tech: The ruble tried to regain some stability after falling to an all-time low on Tuesday, but the US dollar resumed its rally against its main rival as traders took a breather amid the escalating Ukraine crisis. A slight calmness has returned to currency markets since Russian and Ukrainian officials negotiated the first ceasefire overnight, four days after Russia invaded its neighbor, after many positions were cleared. , said it is following some of the big moves since the beginning of the week. Shinichiro Kadota, senior FX strategist at Barclays in Tokyo, said: “No one knows what will happen next.

The risk-sensitive Australian dollar fell 0.15% to $0.72525 after hitting an almost weekly high of $0.72670. The Reserve Bank of Australia, as expected, held interest rates at a record low on Tuesday, noting that the Ukraine conflict added a new source of uncertainty to the outlook. The New Zealand dollar fell 0.35% to $0.6756. Major cryptocurrency Bitcoin fell to $43,000 after bouncing to nearly two-week highs above $44,000 late in the evening.

Russia may become more aggressive or they may agree on something, but it is very difficult to predict what it will be,” Kadota said. Told. “People are only looking at the headlines, but barring any obvious negative news, we’re getting to the point where the market is about to stabilize a bit.” 7 weeks against the dollar. The US dollar rose 0.16% to his ¥115.145 after falling 0.47% overnight. After falling 0.95% on Monday, it rose 0.20% to 0.9185 Swiss francs. The euro resumed its decline, dropping 0.25% to $1.1191, but he remains well below the previous session low of $1.1121.

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The ruble plunges as much as 30% to a record $120 after Western countries and their allies slam Russia with new sanctions, including cutting some banks out of her SWIFT financial network. Did. The currency recovered somewhat after an emergency rate hike and other emergency measures by the Russian Central Bank, finally leveling off at 101. Currency volatility hit its highest level in 14 months on Monday, according to Deutsche Bank indices. “The news out of Ukraine remains grim,” Rodrigo Catril, senior forex strategist at National Australia Bank, said in a note. “The battle is raging as the West seeks to step up efforts to isolate Russia.”

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