Ukraine Tension and Closed Markets Push Asian Stocks Lower

Tensions mounting in Ukraine and the signs of sluggish growth in China as well as the doubt about the timing when the U.S. Federal Reserve would begin tightening the interest rates have battered the markets globally during the past few weeks. Janet Yellen, the Federal Reserve Chair's last week's encouraging comments though helped pacify some wrecking nerves.

The dollar pushed up its way to a high of two-week versus the yen as Japan posted its trade deficit that was the greatest ever in this fiscal year till March in 2014 as the result of an energy import bill increase.

On Monday the week began on a cowed note for the Asian stock market. Growing worries in Ukraine kept the nervousness investors amongst cautious as several markets were closed due to the Easter holidays.

Analysts opined that the signs revealing the U.S. economy shaking off commotion which had resulted from the severe weather in winter would benefit the U.S. currency in the times ahead.

Strategists at Barclays mentioned in a message to clients, "With momentum building behind the U.S. industrial cycle, tentative signs of wage-based pressure building, and further labor market improvements likely, falling U.S. rates are unlikely to continue to be a major driver of dollar weakness."