Volatility on energy, foreign exchange markets over Ukraine

Russia’s rouble plunged (1.9-2.5%) against the dollar in early trading Monday; gold gained slightly to $US1342 an ounce and oil futures rose sharply to $US104.51 a barrel. Russia’s central bank raised key lending rate from 5.5% to 7% “to avert risks of inflation and financial instability. "Now that (Russia and Ukraine) are actually on the verge of a military confrontation investors will start selling off Russian stock," analysts at Rossiysky Capital said in a note for investors. One Moscow trader said brokers were trying to close their positions at any price: "There's a sell-off of everything right now," he added.