The euro lost ground against its major counterparts in the Asian session on Thursday amid escalating geopolitical concerns, as Russia invaded Ukraine and launched missile attacks on the cities of Kyiv and kharkiv, calling on Ukrainian soldiers to lay down their arms.
In a televised address, Russian President Vladimir Putin ordered a military action in Ukraine, threatening "those who may be tempted to intervene" to defend the country.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.