- The Russian rouble was the most significant mover yesterday, dropping off by as much 1% against the US dollar. The Russian economy and the rouble remain very sensitive to any news flows regarding the Ukrainian conflict. A set of satellite photos surfaced yesterday that the US claims proves that Russia fired shells across the border – this has bolstered bets that wider sanctions will be imposed, with European Union nations looking the most likely to act.
- The Australian dollar strengthened, with a more positive sentiment surrounding China, their biggest trading partner – this has provided support for the export-reliant economy. China’s yuan has also taken strength from the sentiment.
A relatively quiet day on the data-front today means that markets will be susceptible to other factors, so if you are looking to buy or sell currencies, we suggest you call your trader now for live rates, news and currency purchasing strategies.