Yen, Swiss franc jump versus euro
US dollar index extends rise
Analysts say markets too complacent to geopolitical risks

Nov 19 Reuters Investors rushed into safehaven currencies, including the U.S. dollar, the Swiss franc and the yen, after a warning from Russia over its updated nuclear doctrine.

President Vladimir Putin issued a warning to the United States on Tuesday, lowering the threshold for a nuclear strike after the administration of Joe Biden reportedly allowed Ukraine to fire Americanmade longrange missiles deep into Russia.

The yen jumped 0.5 versus the dollar and 0.8 against the euro , hitting its highest since Oct. 4 at 161.50.

The yen has fallen about 7 since October and had weakened past the 156 per dollar level for the first time since July last week, putting traders on alert for any intervention from Japanese authorities to shore up the currency.

The Swiss franc was up 0.3 versus the euro at 0.9325 after hitting 0.9305 , its highest since early August.

The U.S. dollar index a measure of the unit39;s value relative to a basket of foreign currencies rose 0.25 to 106.46. It hit 107.07 last week, its highest level since November, 2023.

Typical riskoff move in forex following the headline, said Athanasios Vamvakidis, global head of foreign exchange strategy at Bofa, referring to the reaction to the Kremlin statement.

The market has been complacent on geopolitical risks, focusing on other themes, he added. Positioning has been long risk, getting…