The rouble plunged to an all-time low on Monday, and the dollar soared against nearly all peers after Western nations announced fresh sanctions to punish Russia for its invasion of Ukraine, and Vladimir Putin put nuclear-armed forces on high alert.
The vendor of a newspaper and magazine stall demonstrates rouble banknotes in Stavropol, southern Russia, January 21, 2016. REUTERS/Eduard KorniyenkoTOKYO, Feb 28 - The rouble plunged to an all-time low on Monday, and the dollar soared against nearly all peers after Western nations announced fresh sanctions to punish Russia for itsThe rouble dropped to as low as 119 per dollar in early trading, screaming through its previous low of 90 roubles per dollar.
However, the dollar was the main beneficiary of the tension around Ukraine. The dollar index at was at 97.244 , well up from Friday's close of 96.570."In the near term we think the dollar faces a risk of pushing above the 97.47 resistance level," said Carol Kong, an FX strategist at Commonwealth Bank of Australia.
She noted that high energy prices were capping the yen, given Japan imports the bulk of its energy requirements.
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