Euro Climbs As Zelenskyy Drops Push To Join NATO
09 Mars 2022 - 08:16AM
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The euro advanced against its major counterparts in the European
session on Wednesday, as European stock markets rose after
Ukrainian President Volodymyr Zelenskyy said that he has dropped
his plan to join NATO, raising hopes for a diplomatic solution to
the ongoing war in the country.
NATO is not prepared to accept Ukraine as it wants to avoid a
confrontation with Russia, Zelenskyy said on Tuesday.
Zelenskyy added that he is willing to compromise on the status
of two breakaway pro-Russian territories recognized by Putin as
independent.
Separately, NATO secretary-general Jens Stoltenberg said there
were credible reports Russian forces were targeting civilians in
Ukraine and urged the Kremlin to ensure the war would not spread
beyond.
Investors awaited the monetary policy decision from the European
Central Bank due Thursday. The Governing Council is widely expected
to retain the policy amid the ongoing war in Ukraine.
The euro appreciated to 5-day highs of 1.0993 against the
greenback and 127.36 against the yen, up from its prior lows of
1.0890 and 125.96, respectively. The euro is seen finding
resistance around 1.12 against the greenback and 129.00 against the
yen.
The euro rebounded from its early lows of 0.8315 against the
pound and 1.0112 against the franc, hitting a 1-week high of 0.8349
and a 6-day high of 1.0199, respectively. The euro is likely to
challenge resistance around 0.86 against the pound and 1.04 against
the franc.
The euro recovered modestly against the loonie, with the pair
trading at 1.4088. On the upside, 1.43 is likely seen as its next
resistance level.
In contrast, the euro was down against the aussie and the kiwi,
touching 1.4936 and 1.5993, respectively. If the currency falls
further, 1.45 and 1.54 are likely seen as its next support levels
against the aussie and the kiwi, respectively.
Euro vs Yen (FX:EURJPY)
Graphique Historique de la Devise
De Fév 2024 à Mar 2024
Euro vs Yen (FX:EURJPY)
Graphique Historique de la Devise
De Mar 2023 à Mar 2024