The dollar is weaker and gold is just below an eight-month high as risk of Russia invading Ukraine holds investors’ attention
Screens at the London Stock Exchange in London, the UK. Picture: BLOOMBERG/LUKE MACGREGOR
Investor risk appetite improved slightly on Monday when Russian foreign minister Sergei Lavrov suggested that Moscow should continue along the diplomatic path to resolve the tension. The MSCI world equity index, which tracks shares in 50 countries, was up 0.2% on the day at 8.39am GMT, its first gain after three consecutive days of drops of more than 0.9%.“Comments from the Russian foreign minister that there was still mileage in negotiation and similar diplomatic efforts from Western nations looks to be helping to dampen down the anxiety that has been gripping markets in recent days.
Gold — a safe-haven asset — rose to an eight-month high during the Asian session, but pulled back as European markets opened.Investors also focused on the trajectories for major central banks to tighten monetary policy.Markets are pricing a 60.5% chance of a 50 basis points hike and a 39.5% chance of a 0.25% hike at the US central bank’s March meeting.
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