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Tensions at the Russia-Ukraine border have somewhat eased. Russian troops have reportedly started returning to their bases; however, Ukraine has highlighted recent cyberattacks on its network of the Defense Ministry and two banks.
The United States of America is yet to verify the de-escalation of the Russian troops, but Ukraine has presented sufficient evidence of witnessing cyber attacks.
Euro Holds Its Overnight Gains
Following all the tensions at the border, Euro has begun to hold steady the value that it earned overnight while losing its charm in the Asian market. Trading in Forex appears to be tricky as there are many other factors that can still play an important role in affecting the price of the Euro, among other currencies, in the near future.
Connecting with an experienced and professional Forex broker is the best way to remain assured of the best returns. Read more here about how the best Forex brokers can help mitigate the risk factor in trading.
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Euro has jumped by 0.45% to touch the mark of $1.1347. Shares have also rebounded across the globe, with Asian markets following the trend very closely.
One factor that has been playing a major role in the market is the expectation of the US Federal Reserve to hike the interest rate. The Fed is expected to begin the series of hikes in the interest rate from March 2022. Explore various US regulated forex brokers and choose as per need.
Asian equities followed the trend with MSCI’s index of Asia Pacific shares outside Japan rising 1% on the previous day.
The Australian Dollar and Yen responded in a similar manner. This came as a surprise since the currencies have different characteristics. The Australian Dollar is sensitive to tense situations, while the Yen is a much safer bet.
Yen shifted to $115.67 per dollar as compared to its previous value of $114.99 per dollar. The Australian Dollar stayed close to $0.7155 which is an increase of 0.37% from its last registered value. You can explore more platforms like the best Australian forex brokers & choose.
Analysts at Westpac stated that the Dollar index would be back on the front foot as the expectations of the US Fed hiking interest rate prevail. It has lost its value but continues to go steady at 96.03.
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The yield on 10-year Treasury notes dipped in recent days when the tensions between Russia and Ukraine rose. That’s when their value was last registered. It stood at 2.0329%, closer to its two-year high value.
The US Fed is more likely to hike the interest rate by 50 basis points. More information will be known after it releases the minutes of its February policy meeting.
