Dollar falls amid Trump-Putin talks to end war in Ukraine
Date: 2025-02-13 Author: Кирило Загоруйко Categories: ECONOMY
The dollar fell on the global market amid talks between U.S. President Donald Trump and Russian dictator Vladimir Putin. Prospects for ending the war in Ukraine strengthened the euro's position.
Bloomberg writes that Scandinavian and European currencies led the rally against the dollar. It is noted that the euro rose 0.5% to $1.0435, the Hungarian forint strengthened 0.8%, reaching its highest since late November, and the Polish zloty rose 0.6%.
"Hopes for a truce between Russia and Ukraine are fueling positive sentiment after Trump's talks with Putin," said Rodrigo Catril, senior currency strategist at National Australia Bank Ltd. in Sydney.
According to him, the truce between Moscow and Kiev gives the euro room to jump higher.
The offshore yuan rose 0.4% against the dollar as buoyant investor sentiment helped fuel broad gains in Asian currencies.
"The dollar move was triggered by euro buying and then stops were triggered on other dollar positions," said Alvin Tan, head of Asia FX strategy at RBC Capital Markets in Singapore. "There is an element of risk in the move as well."
