Yen Firm, Ukraine Crisis Deepens

<div><img width="1200" height="798" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-scaled.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Yen and Dollar gain as risk sentiment falls ahead of Fed" loading="lazy" srcset="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-scaled.jpg 1200w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-300×199.jpg 300w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-1024×681.jpg 1024w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-768×511.jpg 768w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-1536×1021.jpg 1536w, https://6ztkp25f.tinifycdn.com/wp-content/uploads/2021/07/shutterstock_170574572-2048×1362.jpg 2048w" sizes="(max-width: 1200px) 100vw, 1200px" /></div><h1><span data-preserver-spaces="true">Yen Firm, Ukraine Crisis Deepens</span></h1>
<p><span data-preserver-spaces="true">On Tuesday, the safe-haven yen hit a nearly three-week high in Asia trade. The euro hit a one-week low as Russia ordered troops into breakaway parts of eastern Ukraine and the West threatened sanctions in response.</span></p>
<p><a href="https://www.financebrokerage.com/japans-diplomat-about-yen-and-its-effect-on-the-economy/" target="_blank" rel="noopener"><span data-preserver-spaces="true">The yen</span></a><span data-preserver-spaces="true"> rose about 0.2 percent to 114.50 per dollar in early trade before falling slightly, while the euro fell about 0.1 percent to $1.1297. On Monday, the Swiss franc, another safe-haven currency, reached a one-month high.</span></p>
<p><span data-preserver-spaces="true">Other currency trade has remained steady as investors await further developments in the crisis. The Russian rouble rose back above 80-to-the-dollar and risk-sensitive Antipodean currencies stayed firm. Russian President Vladimir Putin has ordered the deployment of troops to two separatist regions in eastern Ukraine, which he has recognized as independent.</span></p>
<p><span data-preserver-spaces="true">According to a senior US official, the movie does not yet constitute a “further invasion” warranting the most severe sanctions. However, a more extensive campaign could begin at any time.</span></p>
<p><span data-preserver-spaces="true">Britain, France, and Germany agreed to impose sanctions on Russia’s recognition of the breakaway regions. The White House said it would announce additional measures.</span></p>
<p><span data-preserver-spaces="true">A planned meeting on Thursday between Russian Foreign Minister Sergei Lavrov and US Secretary of State Antony Blinken is now in the spotlight ahead of a possible US-Russia leaders summit on Friday.</span></p>
<p><span data-preserver-spaces="true">The Russian rouble fell more than 3% against the dollar on Monday. It continued to fall on Tuesday before stabilizing at 79.147 per dollar. On Monday, the Ukrainian currency fell by more than 1%.</span></p>
<h2><span data-preserver-spaces="true">Currencies</span></h2>
<p><span data-preserver-spaces="true">The risk-sensitive Australian and New Zealand dollars firmed slightly. Still, they remained within recent ranges, according to analysts, as commodity prices and a market already heavily short Aussie dollars limited sentiment-driven selling.</span></p>
<p><span data-preserver-spaces="true">The Australian dollar was last trading at $0.7205, up about 0.2 percent.</span></p>
<p><span data-preserver-spaces="true">The sharp sell-off in Russian assets serves as a stark reminder that tensions remain incredibly high.</span></p>
<p><span data-preserver-spaces="true">However, the commodity story remains highly supportive. We are in the midst of miner dividend season, which means we are likely to see more erratic price action around $0.72.</span></p>
<p><span data-preserver-spaces="true">The New Zealand dollar was last up 0.2 percent at $0.6714, while sterling was down about 0.1 percent at $1.3593.</span></p>
<p><span data-preserver-spaces="true">The US </span><a href="https://www.financebrokerage.com/euro-gains-dollar-eases/" target="_blank" rel="noopener"><span data-preserver-spaces="true">dollar</span></a><span data-preserver-spaces="true"> index remained at 96.147.</span></p>
<p><span data-preserver-spaces="true">Bitcoin fell to a nearly three-week low of $36,370, putting the cryptocurrency under pressure.</span></p>
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