The dollar remained well supported today after the tensions between Russia and US regarding Ukraine are escalating. In addition the decision of the Ukrainian Central Bank to abandon the managed exchange rate has send USDUAH thorough the roof dragging other emerging market currencies like the RUB and the TRY is well. So it’s all about Ukraine these days and if tensions start to build up between Russia and US it will not be good for the stocks and risk currencies, as investors will shift their money to ‘safe heavens’ like the JPY, the CHF, the USD and gold among others.
EURGBP Daily Chart:
The pair keeps the pattern of lower highs and lows. It all points to more losses in the medium to long-term if the pattern is maintained.
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