By Gina Lee

Investing.com – The dollar was up on Friday morning in Asia. But, safe-haven currencies like the yen have gained on the dollar since U.S. president Joe Biden charged Russia with creating a pretext in order to justify an attack against Ukraine.

At 10:09 PM ET, the currency exchange rate that compares the greenback to a basket made up of different currencies increased by 0.02% (3:09 GMT) In the last week, the dollar has fallen 0.5%.

It was up 0.2% at 115.19.

This pair saw a 0.24% increase to 0.7200. The pair also experienced a 0.33% rise to 0.6709.

They fell by 0.03% from 6.3354 to 1.3609, while the pair grew by 0.03%.

CBA analysts stated that the support level at 114.63 is within reach if there are more negative headlines about Ukraine. Markets were also focused on the Bank of Japan (BOJ)’s policy, as the central bank continues with its policy of yield curve control, the note added.

This has reaffirmed Western fears of a Russian invasion. American President Joe Biden claimed that Moscow was preparing for an attack. Russia also expelled a diplomat from the United States.

Also, the U.S. currency lost ground against the Swiss franc due to tensions. On Thursday, the greenback fell at 0.9196 Francs. This is just below its intraday high of 0.9186 Francs. Bitcoin was at $40,500, a low of around two weeks.

Pepperstone’s head of research Chris Weston told us in a morning email, “Crypto once again has demonstrated that it is high beta risk assets and has a dark sinister looking that could transform into something ugly.”

Because of tensions in Ukraine the euro was volatile and traded last at $1.1360. Bets on tighter monetary policy by the Bank of England supported the British Pound.

Central banks and their monetary policies were also under scrutiny with the BOJ’s offer to buy an unlimited amount of benchmark 10-year government bonds earlier in the week weighing on the yen. While markets haven’t been aggressively testing the BOJ’s 0.25% yield goal on these bonds, yields for other tenors continue to rise.

The debate about how aggressively and when the U.S. Federal Reserve should raise interest rates continues.

Loretta Mester, Cleveland Fed president, stated that the Fed must raise interest rates faster and reduce its balance sheet quicker than after the “great recession”.