Published at 03:54 (GMT) 18 Dec
More on Ukraine-Russia deal, and any impact on the current demonstrations, and EU relations. WSJ: Russia trumped the EU by extending a bailout package worth as much as $20bn to neighboring Ukraine, showing the importance Moscow places on keeping the former Soviet republic in its orbit.
The pact, one of the richest ever offered by Russia to another country, came just weeks after Kiev turned its back on a trade deal with the EU that Moscow had strongly opposed. The deal, announced after talks in the Kremlin between Russian Pres Vladimir Putin and his Ukrainian counterpart Viktor Yanukovych on Tuesday, gives Ukraine loans and cheaper natural-gas supplies. It appears to be substantially larger and the terms less restrictive than the aid the West had been offering to entice Ukraine to sign the EU's trade-and-political accord.
On FX, some focus on the above impact on Russia, Ukraine and EU. USD/UAH levels at 8.2900-00. USD/RUB levels at 32.675/975 just for info. EUR/USD at 1.3770-73, range of 1.3723 to 1.3780 in NY, with offers at 1.3800-10, bids at 1.3740-50/1.3700-20. Talks of Asian Cbs, reserve managers, year-end European demand on dips. EUR/SGD looking bid at 1.7305-10, given broadly firmer EUR/Crosses - led by EUR/AUD, EUR/JPY. EUR/SGD hit 2-year highs 1.7325-35, highest level since Dec 9 2011 1.7406. USD/SGD supported on EUR/SGD leg, but weighed by AUD/SGD leg. USD/SGD at 1.2565-70, offers 1.2590-00, bids at 1.2520-30. WL
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