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Dollar edged lower

Miguel A. Rodriguez
Miguel A. Rodriguez
21 February 2022
Risk sentiment was driven by potential Ukraine summit

The week's rough start for the US Dollar was fueled by the news of an “in principle” meeting between US president Joe Biden and his Russian counterpart, Vladimir Putin, regarding the situation on the Ukrainian border. The summit was proposed by the French leader, Emmanuel Macron.

According to the White House, Biden had accepted the meeting “in principle” but only “if an invasion hasn’t happened.” Kremlin was silent on the matter. The meeting could offer a possible diplomatic solution to one of the most significant security crises in Europe in decades.

Last week, the dollar benefited from the heightened tensions on the Ukrainian border, as Russian troops were massing and undertaking military exercises in neighboring Belarus. Ukrainian forces and Russia-backed rebels exchanged accusations of violence in the eastern part of the country. The Russian ruble, which has been sensitive to the prospect of war, strengthened, with USD/RUB trading 0.9% lower at 0.7217.

In early European trading, the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% lower at 95.745.


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.