The Russian invasion of Ukraine has produced a major shock in Europe. The British Pound and Euro have already been in long-term bearish trends but the threat of a war breaking out involving NATO in Europe, though slim, has clearly impacted European currencies except for the Swiss Franc which tends to act as a safe haven. The economic fallout from the sanctioning of Russia has also had a major impact.
Friday’s close in this currency pair was the lowest seen since October 2020, with the price ending the week at a new 16-month low, well into blue sky.
It is very likely that the price of this currency pair will fall again over the coming week, especially if Wednesday’s FOMC release boost the US Dollar, which is breaking to new long-term highs.
Friday’s close in this currency pair was the lowest seen since October 2020, with the price ending the week at a new 16-month low, well into blue sky.
It is very likely that the price of this currency pair will fall again over the coming week, especially if Wednesday’s FOMC release boost the US Dollar, which is breaking to new long-term highs.