Around 11:10 a.m., the euro gained 0.15% to 1.1328 dollars for one euro.
The euro strengthened slightly against the dollar on Tuesday in a foreign exchange market so far little affected by the threat of a major conflict in Ukraine, although an escalation could affect the single European currency.
Around 10:10 a.m. GMT (11:10 a.m. CET), the euro took 0.15% to 1.1328 dollars for one euro.
Ukraine on Tuesday called on the West for harsh reprisals against Russia, pending the extent of the military operation ordered by Vladimir Putin after the recognition of the independence of the separatists in eastern Ukraine by Moscow.
On the night of Monday to Tuesday, Mr. Putin instructed his army to deploy in the separatist “republics” of Donetsk and Lugansk.
While the stock markets and commodities are rocking, Kit Juckes, an analyst at Societe Generale, wonders if the “currencies will ignore the Ukrainian crisis”.
For now, even the Russian ruble (+0.69% to 79.53 rubles per dollar) has not suffered, although it remains down 5.5% since the start of the year.
“If this remains a regional crisis, the main effect on the world market will be on the price of energy”, Russia being a major gas exporter, comments Mr. Juckes.
The euro and the yen could therefore suffer, since the European Union and Japan are highly dependent on the global energy market.
The Swiss franc, also considered a safe haven, yielded 0.27% against the dollar at 0.9183 Swiss francs for one dollar and 0.42% against the euro at 1.0402 Swiss francs for one euro.
“The Swiss franc has recently appreciated strongly against the euro”, by 2% in two weeks, notes You-Na Park-Heger, analyst at Commerzbank.
“It is therefore likely that the concerns of the Swiss central bank about too strong a strength of the franc have increased in recent days,” she adds.