Markets are expected to remain turbulent this week as the conflict between Russia and Ukraine continues with the United States continuing to warn of an unexpected attack by Moscow.
The US dollar displayed a slight decline at the opening of the Asian session market after gaining gains at the end of last week’s trading.
The decline follows reports that US President Joe Biden will hold a meeting with leaders from G7 countries on Thursday to discuss the situation in Ukraine.
Still, what further boosted market sentiment was after the office of French President Emmanuel Macron issued a statement that Biden and Putin had agreed to hold a summit on the Ukraine crisis.
The matter was later confirmed by the White House that a summit between the two world leaders would take place following a meeting between Secretary of State Antony Blinken and his Russian counterpart, Foreign Minister Sergey Lavrov. The meeting is scheduled for later this week.
This indirectly pushed the euro to gain some support at the start of the Asian session. While risk -sensitive currencies, the Aussie dollar and kiwi traded positive.
Meanwhile, the pound also recorded gains by trading steady at around 1.3600, still maintaining last week's gains following positive UK economic data.
