28 Apr 2014
Yen falls on declining haven demand following fresh US sanctions for Russia
FXStreet (London) - USD/JPY has rallied strongly on declining haven demand for the yen on expectations of easing tensions in the Ukraine following further US sanctions of Russia.
With the exception of AUD, the yen fell against all of the majors as the US issued fresh sanctions against Russia following its actions in the Ukraine.
US sanctions Russian individuals and companies
President Barack Obama today announced measures to freeze assets of prominent Russians close to President Vladimir Putin, as well as imposing visa restrictions. In addition, the US sanctioned 17 Russian companies. The measures enacted today come on top of the sanctions put in place following Russia’s annexation of the Crimea.
The European Union is also expected to announce further sanctions against Russia, despite its reliance upon Russian energy supplies.
While Moscow has maintained that rebellion by Russian speakers in the east of Ukraine has been orchestrated by disenchanted Ukrainian citizens, the White House has stated that “Russia's involvement in the recent violence in eastern Ukraine is indisputable,” adding: “Russia has done nothing to meet its Geneva commitments and in fact has further escalated the crisis.”
USD/JPY is currently trading at JPY102.5400, rallying 0.37 percent on the session so far.
With the exception of AUD, the yen fell against all of the majors as the US issued fresh sanctions against Russia following its actions in the Ukraine.
US sanctions Russian individuals and companies
President Barack Obama today announced measures to freeze assets of prominent Russians close to President Vladimir Putin, as well as imposing visa restrictions. In addition, the US sanctioned 17 Russian companies. The measures enacted today come on top of the sanctions put in place following Russia’s annexation of the Crimea.
The European Union is also expected to announce further sanctions against Russia, despite its reliance upon Russian energy supplies.
While Moscow has maintained that rebellion by Russian speakers in the east of Ukraine has been orchestrated by disenchanted Ukrainian citizens, the White House has stated that “Russia's involvement in the recent violence in eastern Ukraine is indisputable,” adding: “Russia has done nothing to meet its Geneva commitments and in fact has further escalated the crisis.”
USD/JPY is currently trading at JPY102.5400, rallying 0.37 percent on the session so far.