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Ukraine tension reins in euro, drives rush to safe-haven currencies

German Chancellor Olaf Scholz, who heads to Kyiv on Monday and Moscow for talks with President Vladimir Putin on Tuesday, warned of sanctions if Moscow invaded Ukraine

Photo: Unsplash/Ibrahim Boran
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Photo: Unsplash/Ibrahim Boran

Reuters
The dollar and safe-haven currencies held gains and riskier ones struggled for traction on Monday, with traders on edge about the prospect of war in Europe and unsettled by soaring inflation.

The risk of war in Ukraine has seen the euro retreat to $1.1360 from last week's top of $1.1495.

The Australian and New Zealand dollars were also pinned below last week's levels and the Russian rouble was smarting after suffering its sharpest fall in nearly two years on Friday.

The safe-haven yen has climbed to 115.50 yen from a five-week low of 116.34 last week.

Russia could invade Ukraine at any time and

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