Currency Buzz: EUR/USD Slides Amid Escalating Global Tensions

14 Feb 2022 , 04:08 PM

The euro dropped lower against the dollar amid escalating tensions between Russia and Ukraine. Tensions with Russia escalated, with the US warning that Russia could invade Ukraine at any time while the G7 Finance Ministers notified of massive economic consequences if it choses to invade Ukraine. The single common currency was currently quoting at $1.1309, after hitting its lowest level since Feb. 3 at $1.1305. Earlier this month, euro touched a 3-week high of $1.145. The dollar rose on Monday along with the yen and Swiss franc as investors rushed into safe-haven assets on fears that Russia is preparing to invade Ukraine. The dollar index rose 0.4% to 96.328, its highest since Feb. 1.

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