what currencies do you feel will be most effected by the war in the Ukraine?
As word spread that Russian troops were blockading Ukrainian military facilities, the U.S. dollar and Japanese Yen both increased in value. The reason: Europe 19s energy supplies are more directly affected by trade sanctions against Russia, so some Asian and European investors were buying U.S. dollars. A strong dollar means U.S. tourists can buy more foreign goods and services with the same amount of U.S. dollars in their back pocket. 1CAlthough the currency markets certainly reacted to events in Ukraine this week, perhaps the most notable feature was how modest the moves proved to be, 1D says Derrick Simon, chief currency strategist at BNY Mellon, an investment management and investment services company based in London. 1CWhether this optimistic viewpoint was justified remains to be seen. 1D
