Euro Declines Amid Ukraine-Russia Tensions
November 20 2024 - 8:16AM
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The euro dropped against its major counterparts in the New York
session on Wednesday, amid growing geopolitical tensions after
Ukraine's use of Storm Shadow missiles supplied by Britain in
Russia.
The strike came a day after Ukraine used U.S. missiles to strike
military targets inside Russia.
The U.S. Embassy in Kyiv said it would stay closed Wednesday
after receiving a warning of a potentially significant Russian air
attack on the Ukrainian capital.
The precautionary step came after Russian officials promised a
response to President Joe Biden's decision to let Ukraine strike
targets on Russian soil with U.S.-made missiles — a move that
angered the Kremlin.
The Greek and Spanish embassies in Kyiv have closed to the
public today, after air raid sirens were activated in the Ukrainian
capital several times overnight.
The euro weakened to a 5-day low of 0.8313 against the pound and
a 6-day low of 1.0506 against the greenback, from an early high of
0.8358 and a 1-week high of 1.0609, respectively. The currency is
seen finding support around 0.82 against the pound and 1.03 against
the greenback.
The euro fell to a 6-day low of 1.4718 against the loonie and an
8-day low of 1.6197 against the aussie, off its early highs of
1.4803 and 1.6237, respectively. The next possible support for the
currency is seen around 1.46 against the loonie and 1.60 against
the aussie.
The euro edged down to 0.9305 against the franc and 163.15
against the yen, from an early high of 0.9365 and a 5-day high of
164.76, respectively. The currency may challenge support around
0.92 against the franc and 160.00 against the yen.
The euro reached as low as 1.7910 against the kiwi. If the
currency falls further, it is likely to test support around the
1.78 region.
Euro vs NZD (FX:EURNZD)
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Euro vs NZD (FX:EURNZD)
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