EUR/USD fell on Monday as fresh claims of Russian war crimes in the Ukraine led to increased speculation of more punitive sanctions against Russia. The news, combined with other developments over the weekend, dented hopes last week of a possible de-escalation in the war. Added downward pressure on the euro also came from firmer-than expected US factory order data for February on what was a light day in terms of economic data. ECB Governing Council member Vasle, who hinted the ECB could raise interest rates by the end of this year, lent little support to the euro in the current environment.
