That’s the headline behind the pop in yen pairs and the swissy.
Interfax reports that Russia has ended exercises for air defence and aviation and that forces will return to permanent bases after t he drill. They cite the Russian defence ministry.
With the US helping out in Iraq, today’s possible Russian de-escalation news and now there enough reason for safety flows to unwind into the weekend.
Brent oil in particular has washed out any Iraq worries as it falls to the days lows at 104.64 from a high at 106.82.
Update: I’m going to clarify the post somewhat as reading it in more detail the forces have been drilling around the Astrakhan region, which is more towards the Caspian sea area than Ukraine. Not sure if it’s all related to the troop build up on the Ukraine border or not so I’ve dropped it from the title until it becomes clearer.
