Traders note rumors that Ukraine is in technical default on its bonds. The Government collapsed overnight, so that may be a contributing factor, though I can say with certainty that I have no idea what is going on in Ukraine these days…
A default by Ukraine would hit western European banking giants disproportionately hard as they are heavily exposed to Eastern Europe. Like they sisn’t have enough on their plates already…
EUR/USD is pulling back from session highs at 1.3599 on the rumors, now at 1.3585.