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Putin ordered troops into Ukraine, sent the euro to a three-week low and the pound down

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News Tech: The euro fell to a three-week low against the safe-haven dollar on Thursday, while riskier commodity currencies like the Australian dollar weakened amid growing concerns that A large-scale Russian invasion of Ukraine is imminent. The ruble held near a two-year low, the pound hit its lowest level in more than a week and bitcoin fell to a one-month low after Russian President Vladimir Putin said he had authorized military action in Russia. Ukraine’s Donbas breakaway region. Markets were put on high alert after US Secretary of State Antony Blinken told NBC he believes a full-scale Russian invasion could be imminent.

“If things get really bad,” the Aussie could test $0.70, and if the euro falls below the $1.1235 support, “it could drop a little bit more,” he said. The ruble holds near its weakest since March 2020 at 81.5710 per dollar, the last trading at 81.155. The British pound fell 0.17% to $1.3522, its lowest since Feb. 15. The US Dollar Index, which measures the greenback against six major currencies, gained 0.28% to 96.451 for the first time. first since February 1.

The euro fell 0.35% to $1.1265, its lowest level since Feb. 3. Against other traditional safe-haven currencies, the euro lost as much as 0.48% to 129.40 yen and gained 0.38% to 1,0340 Swiss francs. The Australian dollar fell 0.62% to $0.7187 and the New Zealand dollar fell 0.64% to $0.6730. “Things are bound to get worse before they get better, which means commodity currencies could weaken,” said Joseph Capurso, strategist at Commonwealth Bank of Australia.

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Breaking out of its safe-haven status, the dollar was boosted by expectations that the Federal Reserve will launch a rate hike campaign next month, with traders pricing a 4-in 4 of the increase of half a dollar point, despite the increase of Ukrainian risk. In crypto, bitcoin fell 5.57% to $35,197.44, levels not seen since Jan. 24. Smaller rival Ether fell 5.24% to $2,442.00, its weakest level since January 28.

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