News Column

Euro Advances As Russia, Ukraine Agree On Ceasefire Deal

September 3, 2014

BRUSSELS (Alliance News) - The euro climbed against the other major currencies in European morning deals on Wednesday, amid reports that Ukraine and Russia reached deal on a permanent ceasefire" in eastern Ukraine's Donbass region.

During a telephone conversation, Russian President Vladimir Putin agreed for a permanent ceasefire with Ukraine President Petro Poroshenko on Donbass, where pro-Russian separatists have been fighting with Ukrainian forces since April.

The euro rose to an 8-day high of 1.2089 versus the franc, from an early low of 1.2064. Against the pound, the euro hit near a 2-week high of 0.7985.

The euro rose back against the yen, reaching a 1-1/2-month high of 138.27. Against the greenback, the euro climbed to a 5-day high of 1.3155.

The next possible resistance for the euro is seen around 1.32 against the greenback, 139.00 against the yen, 0.805 against the pound and 1.215 against the Swiss franc.

Eurostat is scheduled to release its retail trade report for the Eurozone at 5 am ET.

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Source: Alliance News

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