European Session – Euro rallies above 1.39
Posted on March 17, 2014 at 2:27 pm GMTDespite on-going geopolitical risks with regards to Crimea, the foreign exchange market has been quite complacent. Crimea has formally applied for union with Russia after 95% of Crimean voters backed the idea in a referendum on Sunday. US President Obama issued a new executive order today to authorize sanctions on certain Russian government officials. The EU issued similar sacntions on Russian and Crimean officials. Currency markets took on a neutral tone during today’s European session. The euro moved higher despite [..]