The US dollar returned to decline as the market entered the European session despite concerns over Russian and Ukrainian tensions still plaguing the market.
After rocking the market with the act of declaring the independence of the two territories in Ukraine, Russia said it was ready to hold negotiations and diplomacy.
This may be a factor for risks in the market to ease slightly, in addition to reports that say European Union (EU) sanctions on Russia may be limited.
Even so, investors remain wary of any possibility that will happen in this issue as the possibility of an attack still exists.
The dollar index, which measures the strength of the greenback against a basket of major currencies, traded lower at around 96.00.
Meanwhile, the euro benefited from the weakening US dollar to return to record gains after falling lower on Monday. The euro also found support from Ifo JErman’s rising business climate index data in February.
The pound was stable at 1.3600 after slipping early in the European session as investors awaited an announcement from Prime Minister Boris Johnson on UK sanctions on Russia.
Meanwhile, the Canadian dollar also regained support to rise on the back of world crude oil prices which are approaching the $ 100 per barrel price level.
