Published at 03:18 (GMT) 03 Sep
CNN: When Air Force One lands in Estonia's capital Wednesday, the U.S. message to Vladimir Putin -- only 500 miles away in Moscow -- will be clear: Stay put.
President Barack Obama's trip to the former Soviet state, ahead of this week's NATO summit in Wales, is meant to reassure nervous Eastern Europe that Putin's support for separatists in Ukraine doesn't mean he has a free pass for territorial gains elsewhere.
Added to the schedule only last month, the stop in Estonia will supplement the message coming from NATO leaders gathering in Cardiff, Wales, who are set to announce the positioning of troops and equipment closer to Russia in Eastern Europe.
On FX, ongoing focus on the Ukraine crisis, Russia tensions. Good to watch. USD/CHF at 0.9192-95, just off the 10-month highs of 0.9212. Highest level since Nov 12 0.9226. Bids at 0.9180-90. Eye any SNB, Swiss bids, rumours on dips in USD/CHF. EUR/CHF. EUR/CHF 1.2070-75, eye any SNB bids on dips, eye Swiss, Sing bids - as SNB monitors EUR/CHF 24-hours in Sing branch and Basel HQ. Offers 1.2100.
USD/RUB levels at 37.44-46, with RUB still under pressure given the Ukraine crisis, sanctions. WL
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