Jump was modest and markets remain down significantly after Russia invaded Ukraine
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 24 2022. Picture: REUTERS
“Markets seem to be reducing tail risks. Additional sanctions announced against Russia matter to Russia, but the domestic Russian economy does not matter much to the global economy ,” said Paul Donovan, chief economist at UBS Global Wealth Management. Safe haven gold, which had jumped on Thursday, inched 0.35% higher to $1,909 an ounce after easing back from a multimonth high of $1,973.96.
The US dollar index, which measures the greenback against a basket of major currencies, was little changed at 97.185, having risen on Thursday to levels last seen during the first wave of the coronavirus pandemic.