Following US President Joe Biden’s readiness to impose severe sanctions over Russia, due to Moscow’s military attack on Ukraine, European Commission President Ursula von der Leyen also crossed wires via AFP.

The news said that the EU Chief denounces Russia’s attack on Ukraine and vows to hold Moscow ‘accountable’.

“In these dark hours, our thoughts are with Ukraine and the innocent women, men and children as they face this unprovoked attack and fear for their lives,” adds AFP.

Also read: US President Biden: United States and our allies and partners will be imposing severe sanctions on Russia

Elsewhere, reports of Russian forces attacking Ukrainian border around Belarus offer the latest blow to the market’s sentiment.

Market reaction

Risk-off mood gains momentum following the news. To portray the same, the US 10-year Treasury yields snap two-day rebound by declining around 10 basis points (bps) to 1.88% whereas S&P 500 Futures drop near 2.0% by the press time. It should be observed that the US Dollar Index (DXY) rises 0.40% intraday due to its safe-haven appeal at the latest.

Read: EUR/USD slumps to monthly low near 1.1200 as Russia-Ukraine war begins

This article was originally published by Fxstreet.com.Read the original article here.

LEAVE A REPLY

Please enter your comment!
Please enter your name here