- Ukrainian Hryvnia stabilizes near the lows
- Russia’s military action can “stop in a moment” Kremlin spokesman said
- US Dollar gives back profits
- Gold price benefits from safe-haven bids
The Ukrainian Hryvnia to US dollar (UAH/USD) exchange rate settled on Monday unchanged at 0.03344, near a 7-year low as the escalation in the Russia – Ukraine continues. At the time of writing, one US dollar buys 0.03344 Ukrainian Hryvnia, unchanged from yesterday’s closing price.
Global risk sentiment has improved yesterday after press secretary for the Russian president; Dmitry Sergeyevich Peskov said the “Russian military action will stop in a moment” if Moscow’s conditions are met.
“They should make amendments to the constitution according to which Ukraine would reject any aims to enter any bloc. This is possible only by making changes to the constitution,” added the Kremlin spokesman.
The greenback rose during the first trading day of the week and closed near the highs of the day.
The dollar index, which gauges the greenback’s strength against a basket of major currencies, settled up +2.04% at 98.50.
Meanwhile, precious metal gold reaches the highest level since August 2020 after it rallied 1.62% during the first trading day of the week. The yellow metal benefited from safe-haven bids on prospects of Russia – Ukraine conflict fueling inflation.
Looking forward, it’s a particularly quiet day on the economic calendar. Investors are only eyeing the US trade balance figures for the first month of the year.
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