12 May 2014
Ukraine remains on focus - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, sees the situation in Ukraine would still weigh on sentiment.
Key Quotes
"Ongoing developments in the Ukraine will be in focus in the European trading session today and are likely to highlight that the situation continues to remain unstable. The eastern regions of Donetsk and Luhansk both held referenda on the status of their regions which are effectively declarations of independence."
"The final results are not yet known but early indications are that the result will be in favour of independence. However, the results are unlikely to be recognised by the international authorities and it even remains uncertain whether the results will be recognised by Russia after President Putin called for the votes to be delayed."
"The US authorities have also threatened to impose broad-sector based sanctions on Russia if it recognises any of the referenda. The referenda may serve to further increase the risk of an escalation in military tensions between pro-Russia separatists and the Ukraine authorities."
Key Quotes
"Ongoing developments in the Ukraine will be in focus in the European trading session today and are likely to highlight that the situation continues to remain unstable. The eastern regions of Donetsk and Luhansk both held referenda on the status of their regions which are effectively declarations of independence."
"The final results are not yet known but early indications are that the result will be in favour of independence. However, the results are unlikely to be recognised by the international authorities and it even remains uncertain whether the results will be recognised by Russia after President Putin called for the votes to be delayed."
"The US authorities have also threatened to impose broad-sector based sanctions on Russia if it recognises any of the referenda. The referenda may serve to further increase the risk of an escalation in military tensions between pro-Russia separatists and the Ukraine authorities."