Ukrainian assets dipped as tensioned heightened with Russia, ending an earlier emerging market stock five-day streak of growth. The streak was also ended due to a decline in the price of oil because of record output.
Ukrainian dollar bonds declines 1.5 cents and stocks fell 0.65 per cent after Russian President Putin accused Ukraine of destabilising Crimea.
The government in Kiev denied the Russian allegations, which in turn caused the hryvnia to drop 0.18 per cent on the dollar.
"The market has become very complacent over Russia geopolitical risks. The Obama administration would respond to further Russian escalation in Ukraine by pushing to enact yet more sanctions on Russia," said Tim Ash, analyst at Nomura International.
Read more at Reuters.