JPY Bid, EUR & SEK Offered As Russians Shell Ukraine Power Plant

JPY leads the G10 FX space on the back of the previously flagged reports of the Russian shelling (and unverified reports of a subsequent break out of fire) at the Zaporizhzhia nuclear power plant in Ukraine, which is Europe’s largest power plant. It is the only one of the G10 currencies to outperform the USD thus far in Asia. Conversely, it is the SEK that finds itself at the foot of the G0 FX performance table, closely followed by the Euro, with the proximity bias and spill over impact from the Russia-Ukraine conflict impacting those 2 currencies. NOK is shielded, at least a little, by crude oil price dynamics.