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traders focus on Ukraine concerns as euro stalls gains but remains steady

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News Tech: The euro’s gains from a day earlier ended in Asia on Wednesday, but there was optimism after reports of some Russian troops pulling away from the Ukrainian border were tempered by news of a cyberattack, easing overnight’s gains. maintained. The dollar lower bound has also been a longstanding expectation that the US Federal Reserve will embark on a fairly aggressive rate hike program at his March meeting.

Stocks around the world rose on reports of a pullback, followed by Asian stocks. MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 1% on Wednesday. The Australian dollar, which is usually considered risk-sensitive, followed the euro, holding steady at 0.37% on Tuesday and little changed at $0.7155 on Wednesday. In contrast, the safe-haven yen eased slightly after briefly touching 114.99 on Monday, trading at 115.67 per dollar.

The Russian Defense Ministry released a video on Tuesday showing some troops returning to base after the exercise. However, US President Joe Biden later said the US did not confirm the move. Moreover, hours after Moscow’s announcement, Ukraine announced that her networks online at the Ministry of Defense and her two banks were overwhelmed by a cyberattack. The euro fell slightly at $1.1347 after he rose 0.45% the day before.

Overall, the Dollar Index, which measures the US dollar against six major currencies, stabilized after Tuesday’s losses trading at 96.03. “The dollar rose overnight as Ukraine’s geopolitical risk premium withdrew from the market, but expectations for an aggressive Fed tightening cycle (dollar index ) foundation,” he said. The Fed is poised to hike rates at its March meeting, which could start a fairly rapid rate hike program and support US benchmark bond yields.

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