Moscow has announced that it intends to increase its Government Reserve Fund by 273.4 billion rubles ($3.23 billion), with a major portion coming from oil and gas sales. The funds will be used to implement measures to ensure the stability of the Russian economy as it faces extensive international sanctions, the Kremlin said in an…
Russia Using Oil and Gas Sales to Bolster Foreign Reserves
April 11, 2022
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Euro Gains Respite From Macron’s French Election Lead
LONDON—The euro looked set to snap a seven-day losing streak versus the dollar on Monday, as the single currency rallied after French leader Emmanuel Macron beat right challenger Marine Le Pen in the country’s first round of presidential voting. Investor concerns about the future direction of the eurozone’s second-biggest economy have weighed on the euro…
Dollar Riding High After Index Hits 100 for First Time in Nearly Two Years
LONDON—The U.S. dollar index strengthened to 100 for the first time in nearly two years on Friday, supported by the prospect of a more aggressive pace of Federal Reserve interest rate hikes. The greenback has gained ground on a basket of rivals over the past month, particularly against the euro, which has been pressured by…
Dollar Heads Towards 2-year High After Fed Aids Greenback Bulls
LONDON—The dollar was heading towards a two-year high against a basket of major currencies on Thursday after meeting minutes showed the Federal Reserve preparing to move aggressively to fight inflation, while commodity-linked currencies fell further. The euro remained near a one-month low below $1.09 as investors await European Central Bank minutes due later. Minutes from…
Euro Feels Weight of French Election Concerns, More Russia Sanctions
April 5, 2022
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LONDON—The euro weakened on Tuesday with the Swiss franc and the Swedish crown the winners as French election worries and the chance of more sanctions against Russia unnerved investors. French financial markets acknowledged the possibility of right candidate Marine Le Pen beating President Emmanuel Macron in this month’s elections, with sharp losses on Paris blue…
Talk of New Sanctions on Russia Weighs Down the Euro
LONDON—The euro edged lower on Monday after Germany and France said a new round of sanctions targeting Russia were needed amid war crimes allegations in Ukraine. The euro, which has been under pressure due to worries about the economic damage from the war in Ukraine, slipped 0.15 percent versus the dollar to park at $1.1031…
Dollar Edges Higher on Safe-Haven Bid, Euro Drops
March 31, 2022
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The dollar edged higher on Thursday as a lack of progress in peace talks between Russia and Ukraine boosted demand for the safe-haven currency and as the energy shock that has resulted from the war weighed on Europe’s economy. Hopes from earlier this week that peace talks would lead to a ceasefire in Ukraine five…
Euro Rises to Month-High Versus Dollar, Yen Recovers
LONDON—The dollar fell to its lowest in almost two weeks on Wednesday and the euro gained, with currency traders optimistic about peace talks in Ukraine, even amid warnings about the damage to Europe’s economy. Equity markets were up in the Asian session, continuing a pick-up in sentiment on Wall Street as markets became hopeful that…
Euro Jumps After Ukraine Offers Neutral Status, Yen Rebounds
March 29, 2022
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The euro jumped on Tuesday after some progress was reported in peace talks between Russia and Ukraine. Russia promised at the talks in Istanbul to drastically scale down its military operations around Kyiv and the northern Ukrainian city of Chernihiv, while Ukraine proposed neutral status with international guarantees. The U.S. dollar was lower, while the…
Japan Updating Forex Law to Block Russia From Circumventing Sanctions Through Cryptos
March 28, 2022
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Asia & PacificBusiness & Economyeconomic policieseconomyEuropeForexjapanese sanctionsMarketsRussia-Ukraine Warsanctions on RussiaSWIFT banking systemWorld
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The government of Japan is seeking to revise its foreign exchange laws to block Moscow from evading sanctions by using cryptocurrencies. A revised version of the Foreign Exchange and Foreign Trade Act will be presented by the government at the current session of parliament, Chief Cabinet Secretary Hirokazu Matsuno said at a press conference. At…
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