LONDON—The euro shed some of its overnight gains on Thursday after its steepest daily jump since 2016 as traders waited for a European Central Bank meeting and a European Union summit to shed light on the bloc’s policy response to Russia’s invasion of Ukraine. The common currency on Wednesday benefited from a risk-on shift in…
Euro Rises 0.5 Percent Against the Dollar Ahead of ECB
LONDON—The euro and other European currencies edged up on Wednesday ahead of this week’s central bank meeting. Sterling rose 0.3 percent against the dollar to $1.3134. “European currencies have been under heavy pressures for the past couple of weeks and some of these valuations have begun to look stretched,” said Jane Foley, head of FX…
Euro Off 22-month Lows as Ukraine Crisis Grips
LONDON—The euro edged up from 22-month lows on Tuesday as war in Ukraine darkens Europe’s economic outlook, while currencies sensitive to soaring commodity prices were volatile. Russia’s invasion of Ukraine has led to increased demand for assets seen as safer across markets, with the dollar—the world’s reserve currency—up around 3 percent over nearly two weeks…
Euro Eyes Void Below Parity Versus Swiss Franc on Stagflation Shock
LONDON—The euro briefly sank below parity versus the Swiss franc for the first time in seven years on Monday and held at a 22-month low versus the dollar as soaring oil prices stoked fears of a stagflationary shock that could hammer Europe. The conflict in Ukraine and harsh international sanctions on Moscow have sent Russian…
Ukraine War Sends Euro Below $1.10 for First Time in Two Years
March 4, 2022
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LONDON—The euro fell on Friday below $1.10 for the first time in almost two years and hit a fresh seven-year low versus the Swiss franc as the war in Ukraine lowered expectations of European economic growth. The European single currency was down 0.8 percent to $1.0967, its weakest level since May 2020, after Russian forces…
Russian Finance Ministry Halts Forex, Gold Purchases for 2022
March 3, 2022
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MOSCOW—Russia’s finance ministry said on Thursday that it was halting purchases of foreign currency and gold for this year as part of a suspension of parts of its fiscal rule relating to the use of extra oil and gas revenues. Under a rule adopted in 2017, Russia buys foreign currency when oil prices are high…
Battered Euro Hits Lowest Since 2016 Versus Sterling, Oil Surge Bites
March 3, 2022
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LONDON—The euro slid to its lowest level in almost six years against Britain’s pound and was pinned near 21-month lows versus the dollar on Thursday, as a fresh surge in energy prices heightened worries about the euro area economic outlook. With Brent crude hitting a nine-year high above $119 per barrel, a dash for resources…
Ukraine Raises $270 Million Through War Bonds, Budgetary Systems Function Normally
Ukraine issued war bonds on Tuesday for fighting off a Russian invasion, and has raised over 8.1 billion UAH ($270 million), the country’s ministry of finance revealed. “In the time of military aggression of the Russian Federation, the Ministry of Finance offers citizens, businesses and foreign investors to support the budget of Ukraine by investing…
Euro Slides as Investors Fret Ukraine Crisis Will Hit Economy
LONDON—The euro plunged to its weakest since May 2020 on Wednesday as investors worried about the impact of an escalating conflict in Ukraine on the region’s economic prospects, while demand for dollars rose as nervous traders looked for safety. The common currency fell half a percent to as low as $1.1069. Adding to the euro’s…
Rouble Slips Again, Swiss Franc Hits Seven-Year High
LONDON—The rouble fell further on Tuesday after partly recovering some ground, while the dollar edged higher and the Swiss franc hit a seven-year high, as investors sought out the safe-haven currency while waiting for developments in Ukraine. Financial markets have been rocked in recent days by Russia’s invasion of Ukraine, and the resulting Western sanctions…
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