Breaking: Russia's Putin say Kyiv is not serious about a solution, dollar, gold up

Yohay Elam FXStreet

Russia's President Vladimir V. Putin has said that Kyiv is not serious about finding a mutually acceptable solution, according to Bloomberg.

Markets have reacted negatively to the news, with stocks retreating from the highs and the safe-haven dollar and gold rising. Investors have been pinning their hopes on negotiations between Russia and Ukraine, which both sides said were making progress. The comment from Putin is taking some of this optimism out of markets.

It is essential to note that markets are extremely volatile and that the comment from Moscow may be followed by a contradicting one. Investors are on edge and will likely remain so while hostilities continue.

Gold has jumped to $1,925 after being pressured toward $1,900 earlier on. Oil has also jumped from the abyss, hitting $96 after slipping below $94 earlier on.

Gold bounces from the lows:

EUR/UISD has drifted further below 1.10, with bulls losing hope of challenging the daily high of 1.1020 or resistance at 1.1040. The common currency has been especially vulnerable, as the war is fought on European soil. The safe-haven dollar is a beneficiary.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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