May 03, 2022 - 11:02 AM 263 views
According to the European Union’s top
diplomat, Josep Borrell, "In the banking field, more Russian banks are
expected to exit the global SWIFT payment network, reported by AFP news
outlet." Furthermore, he added, more Russian banks are being popped off
the SWIFT global network as part of a new EU sanctions package over Russia’s
invasion of Ukraine.
This discussion comes when the European Commission (EU) is willing
to propose this week the sixth package of EU sanctions against Russia, which
invaded Ukraine on an embargoed purchase of Russian oil.
The Market Reaction
The EUR/USD pair trades restlessly above 1.0500, which adds 0.11%
in a day. Amid the pre-Fed anxiety, the pair trades in a bearish consolidative
mode and smells calm.