Market sentiment was seen to recover slightly from the turmoil caused by the geopolitical issues of Russia and Ukraine with most major currencies gaining gains while safe-havens reduced profits.
The market improved after the U.S. State Department announced that Secretary of State Antony Blinken agreed to meet with Russian Foreign Minister Sergei Lavrov next week on the condition that Moscow does not attack Ukraine.
This has given some relief to the market after a shooting incident in the Donbass region between Ukrainian troops and pro-Russian rebels.
Following that, the safe-haven yen returned to show a decline after rising to a two-week high against the US dollar. While risk -sensitive currencies, the Aussie dollar and kiwi rose higher until the opening of the European session.
While most other safe-havens depreciated, the U.S. dollar remained resilient from recording significant declines against its major rivals.
This caused the movement of the euro to also be limited from making gains in the European trading session around the price of 1.1350 against the US dollar.
In addition, the loonie dollar remained traded higher despite crude oil trading continuing to record a decline with market focus now shifting to the publication of Canadian retail sales data in the New York session.
