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Yen ticks higher, euro falters as Ukraine crisis deepens -Breaking

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© Reuters. FILEPHOTO: This is a picture of U.S. dollars, Swiss Francs, British Pounds and Euro banknotes, as taken in Warsaw on January 26, 2011. REUTERS/Kacper Pempel

Tom Westbrook

SINGAPORE (Reuters – On Tuesday, the safe-haven yen soared to a three-week high while the euro and other riskier currencies plummeted as Russia deployed troops in eastern Ukraine. The region was on the brink and threatened with war.

Early in Asia, the yen was 0.2% lower at 114.50 against the dollar. The euro dropped 0.1% to $1.1297 for a one week low. Another safe-haven was the Swiss franc. It reached an overnight high of one month.

Ray Attrill (NAB Head of Foreign Exchange Strategy), stated, “It’s remarkably restrained… but in these circumstances the risk metrics are driving force.”

Russian President Vladimir Putin declared two regions within eastern Ukraine independent Monday. He ordered that the Russian military launch what Moscow calls a peacekeeping operations into this area.

While it wasn’t immediately obvious if the United States or its allies were preparing for an invasion of Ukraine, sanctions have been imposed by the West. [MKTS/GLOB]

Russian rouble fell by more than 3% on Monday against the US dollar. On Tuesday it continued to slide, falling 0.3% further to 80.3930 USD for the first 15 months. The currency of Ukraine fell by more than 1 percent on Monday.

New Zealand and Australian dollar were trading under pressure. However, the recent ranges were maintained by analysts who said that commodities prices and a market that is already short of dollars had limited their losses.

The Australian dollar dropped 0.1% last week to $0.7182. [AUD/]

In a note, Westpac analysts stated that “the sharp sell-off of Russian assets is stark reminders that tension remains superhigh and risk sentiment is hitting across equity credit and bond markets.”

“But, the commodity story is still super supportive and we’re in the middle miner dividend season so we expect more rangy prices around $0.72.”

It was slightly lower at $0.6695, and sterling fell 0.1% to $1.3590. [GBP/]

The current record is 96.083.

There was pressure on cryptocurrencies, as bitcoin neared Monday’s three-week low of $37.112.

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Exchange rate bid prices starting at 0021 GMT

Description U.S. Close RIC Pct Change Pct High Low Bid

Previous changes

Session

Euro/Dollar

$1.1315 $1.1311 +0.04% +0.00% +1.1316 +1.1297

Dollar/Yen

114.5600 114.8200 -0.24% +0.00% +114.6400 +114.5500

Euro/Yen

129.64 129.76 -0.09% +0.00% +129.7900 +129.3700

Dollar/Swiss

0.9156 0.9157 +0.00% +0.00% +0.9161 +0.9157

Sterling/Dollar

1.3593 1.3603 -0.07% +0.00% +1.3599 +1.3582

Dollar/Canadian

1.2756 1.2750 +0.04% +0.00% +1.2766 +1.2753

Aussie/Dollar

0.7185 0.7189 -0.03% +0.00% +0.7190 +0.7172

NZ

Dollar/Dollar 0.6699 0.6701 -0.03% +0.00% +0.6700 +0.6681

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