It’s been a dramatic turnaround in events today after yesterday’s agreement to presidential elections in Dec this year. Today Ukranian MPs voted to oust President Yanukovich and hold early presidential elections in May.
The vote came after police stopped guarding presidential buildings, allowing protesters in, and parliament made new high-level appointments.
Mr Yanukovych said it was a “coup” and vowed not to stand down.And on a day of fast-moving events, prominent opposition leader Yulia Tymoshenko was released from detention, hours after MPs authorised the move.
It now appears to be a full blown coup/revolution going on, in case that wasn’t clear to anyone from the start, and Yanukovich has been barred from trying to get to Russia and his closest supporter Putin.
The BBC has the latest here
Expect the intensfied situation and uncertainty to have negative impact on markets and we should see safe- haven purchases again with the swiss franc once more leading the way. In fact it’s been pointing the way all week with CHF pairs all being capped on any rally.
I’ve been out all day and now heading to a gig but I ‘ll post some more updates/thoughts tomorrow.
Enjoy your week-end everyone.
