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Safe-haven yen and Swiss franc gain on Ukraine worries
The yen and Swiss franc gained on Thursday, while the euro fell, as concerns about a serious escalation in tensions between Ukraine and Russia rattled investors and drove them to seek safe-haven currencies. The euro hit a 21-month low against the Swiss franc of 1.2052 francs per euro on trading platform EBS after the news. Against the yen, the single currency fell to a two-week low of 136.41 yen per euro. "If the situation deteriorates the obvious loser is the euro," said Adam Cole, global head of currency strategy at RBC Capital Markets. Germany, the euro zone's largest economy, is one of Russia's biggest ... (full story)
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