LONDON, Feb 27 — World markets were set for another tumultuous week after Western nations announced a harsh set of sanctions to punish Russia for its invasion of Ukraine and as fighting intensified for a fourth day.
“Nobody likes uncertainty, investors certainly dislike uncertainty and we are looking at a pretty protracted conflict,” said Peter Kinsella, global head of FX strategy at UBP. “Friday’s bounce looked like a genuine short squeeze but Monday should bring some fresh selling pressure as the SWIFT sanctions and the growing likelihood of freezing Russian currency reserves will inflict some real financial pain across markets,” said John Marley, CEO of forexxtra, a London-based FX consultancy.
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