Brussels, Europe Brief News – The Euro experienced a massive recovery on Tuesday, almost nullifying Monday’s losses. The recovery was promoted by the news that some of the Russian troops stationed near the Ukrainian border started to reach back to their bases.
The Euro jumped by 0.4% against the dollar to set the new price to $1.1346 compared to the Monday’s high of $1.1369 as European stock futures recovered on the news.
It is evident that some of the troops in Russia military districts positioned near the Ukraine border started getting back to their bases after finishing their drills.
The Russian defence ministry believes that this act can prove to be helpful in de-escalating resistance between Moscow and The West.
Stuart Cole, Head Macro economist at Equiti Capital said “While any news about a potential de-escalation is welcome, I think the markets will want to see something more concrete before judging the crisis to be over”.
He further added that for invasion to go totally out of equation, it is necessary that Russia eliminate a good number of troops and military hardware from the Ukrainian border.
Uncertainty remains on Russia’s invasion
Nobody seems to be sure enough whether this Russian move will be sufficient enough to release the western tension or not. However, the US had warned the west that a Russian invasion was coming.
All this time, Russia is seeking confirmation that the Ukraine and former soviet nations will not receive NATO membership which was previously rejected by both US and NATO.
The British spokesperson had his say over the latest Russian announcement of withdrawing some troops , He highlighted that they are waiting to check the scale of withdrawal to judge whether the invasion is still possible or not.
Maria Zakharova, Russian ministry spokeswoman said “ The day will go into history as the day western war propaganda failed. They have been disgraced and destroyed without a single shot being fired”.
The euro fell down to a near two week low on Monday after Ukrainian President Volodymyr Zelenskiy asked citizens to fly the country’s flags from the tall buildings and sing the National anthem together.
As per reports, some of the Western media predicted 16 feb to be the day when the Russians could possibly launch the invasion.
For the time being, investors have welcomed the news as it helped them push up the currencies of economies that have been under a massive destruction due to Ukraine-Russian border tension.
