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Geopolitical tensions on the rise – Danske Bank

FXStreet (Edinburgh) - Pernille Nielsen, Senior Analyst at Danske Bank, sees an escalation of the geopolitical jitters following recent sanctions against Russia.

Key Quotes

“Overnight US President Barack Obama authorised air strikes in Iraq to halt the advance of militants and prevent a possible genocide of ethnic groups”.

“The announcement has resulted in a risk-off sentiment and US 10Y bond yields have declined below 2.40, US equity futures dropped with Asian stock (Nikkei is down close to 3%) and JPY rallied in demand for haven assets”.

“After Russia banned imports of a wide range of agricultural and food products it also threatened possible sanctions on aerospace, shipbuilding and auto sectors”.

“Prime Minister Medvedev confirmed that the cabinet was discussing a proposal to ban European and American airlines from flying over Russia airspace”.

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