Investing.com - The euro slipped lower against the dollar and
the yen on Monday, nearing the previous sessions five month lows as
concerns over tensions between Russia and the West bolstered
investor demand for safe haven assets.
EUR/USD dipped 0.04% to 1.3520, not far from Friday's five month
trough of 1.3490.
The pair was likely to find support at 1.3490 and resistance at
1.3571, last Wednesday's high.
Tensions between the West and Russia have mounted since the
shooting down of a Malaysian airliner in eastern Ukraine late last
week. The U.S. and other nations have accused Russia of complicity
in the crash, which Moscow has denied.
Market sentiment deteriorated on Monday following reports that
Ukrainian troops were moving in to the rebel held city of Donetsk,
fuelling fears over an escalation of the conflict in the
Concerns over Israel's ground offensive in Gaza also contributed
to risk aversion in markets.
The euro remained under pressure after recent comments by
European Central Bank President Mario Draghi were seen as the
latest sign that the bank is open to further monetary easing
measures to stave off the risk of deflation in the euro area.
In contrast, Federal Reserve Chair Janet Yellen indicated last
week that interest rates may rise sooner if the economy continues
The euro also edged lower against the yen, with EUR/JPY slipping
0.07% to 136.96 close to the five month lows of 136.69 set on
Elsewhere Monday, the dollar edged lower against the Japanese
currency, with USD/JPY at 101.28, not far from Friday's one week
low of 101.07.
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