BRUSSELS (dpa-AFX) - The Swiss franc was higher against its major trading partners in the European session on Monday, amid risk aversion as Western nations escalated sanctions against Russia and President Vladimir Putin ordered to put the nuclear deterrent forces on high alert.
Putin ordered his country's deterrent forces to increase the readiness of nuclear weapons as his forces continue their advance on Kyiv.
The United States and its allies decided to disconnect selected Russian banks from the SWIFT financial system and announced restrictions against the Russian Central Bank.
The European Union banned the transactions of Russia's central bank and freezed its assets, chief Ursula von der Leyen said on Sunday.
Investors focused on talks between Russia and Ukraine taking place at the Belarusian border near the Pripyat River.
Ukraine said that it has demanded an 'immediate ceasefire and withdrawal of Russian troops' as intense fighting continued between both sides.
The franc appreciated to a 5-day high of 125.35 against the yen, after falling to 124.15 at 5:15 pm ET. The franc is seen finding resistance around the 128.00 level.
The franc that closed Friday's deals at 0.9255 against the greenback rose to a 4-day high of 0.9222. On the upside, 0.90 is possibly seen as its next resistance level.
The franc remained higher against the euro with the pair trading at 1.0317. This followed a 4-day high of 1.0303 seen in the previous session. The franc is likely to challenge resistance around the 1.02 level.
The Swiss currency rose back to 1.2335 against the pound, a few pips short of a 4-day high of 1.2331 hit in the Asian session. Next key resistance for the currency is seen around the 1.21 level.
Looking ahead, Canada industrial product and raw materials price indexes, as well as U.S. wholesale inventories and advance goods trade balance, all for January, are due out in the New York session.
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