Early interbank trading shows run to safety

Dollar and yen are up against most rivals in early interbank trading, with even Swiss Franc advancing with just New Zealand market open. Yen crosses are showing gaps of around 50 pips or more, with the USD/JPY trading around 101.35, EUR/JPY at 139.50 and GBP/JPY down to 169.56. Russian troops entering Ukraine’s Crimea region early Sunday are the reason beyond this run to safety, as the word war sounds out loud. Past Friday, US President Barack Obama has warned Moscow that any military intervention in Ukraine would be "deeply destabilizing", but seems president Putin is not concerned about it.

Major pairs are also on the run, with EUR/USD down 40 pips to the 1.3762 region, GBP/USD down just 20 pips, and commodity currencies also losing some ground against the greenback. Swissy strength is more clear in the crosses, with EUR/CHF flirting with 1.2100, and USD/CHF pretty much unchanged at this time of the day.