Euro’ gains fizzle as Russia-Ukraine conflict fears intensify
A picture illustration of U.S. dollar, Swiss Franc, British pound and Euro bank notes, taken in Warsaw January 26, 2011. REUTERS/Kacper Pempel
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LONDON, Feb 21 (Reuters) – The euro’s gains fizzled and the dollar received a safe-haven boost on Monday after the Kremlin said there were no concrete plans for a summit over Ukraine between the Russian and U.S. presidents.
Weekend reports that Vladimir Putin and Joe Biden had agreed in principle to discuss finding a possible path out of Europe’s biggest military crisis in decades had prompted investors to cautiously buy stocks and the euro and pull capital away from safe-haven shelters such as the yen and government debt.
But the latest news, along with reports of border skirmishes, prompted investors to take shelter.
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“Tensions are running high,” said Kenneth Broux, an FX…
