Germany's Scholz: We have reports of very extensive Russian troop movements

Eren Sengezer FXStreet

German Chancellor Olaf Scholz said on Tuesday that they have reports of very extensive movements of Russian troops and called on Russian President Vladimir Putin to immediately stop fighting and remove troops, as reported by Reuters.

"We will certainly add further sanctions packages," Scholz added.

Meanwhile, Ukrainian defence minister claimed that Russia was preparing for a mass disinformation campaign about Ukrainian surrender.

Market reaction

The shared currency is having a difficult time finding demand following these comments. As of writing, the EUR/USD pair was trading at 1.1177, down nearly 0.4% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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