EUR/JPY pares intraday losses, still well offered below 129.00 mark amid risk-off By HareshMenghani EURJPY RiskAversion RussianFederation Currencies ECB
Russian President Vladimir Putin authorized a special military operation in Donbas and triggered a fresh wave of the global risk-aversion trade. This was evident from a sea of red in the equity markets, which, in turn, forced investors to take refuge in the safe-haven Japanese yen and prompted aggressive selling around the EUR/JPY cross.
German Chancellor Olaf Scholz said that the attack on Ukraine is a blatant breach of international law and that Russia must immediately cease its military action. US President Joe Biden also issued a statement and called the attack unprovoked and unjustified. Biden further added that the US and its allies will impose severe sanctions on Russia.
officials. The ECB Vice President Luis de Guindos said that we will readjust asset purchases if needed and will see when an interest rate hike can take place.monetary policy