Current positive sentiment continued to grace the European session market with euro trading remaining strong while the USD giant depreciated lower.
Although the US Pentagon said that Russia was only moving its troops around Kiev instead of retreating, the market ignored it and pushed most major currencies to remain stable.
Investors are now awaiting the release of US ADP private sector employment data to be released in the New York session. With slightly declining expectations in March investors reduced their holdings against the US dollar.
At the same session, investors will also see the final reading of US Gross Domestic Product (GDP) for the fourth quarter of 2021.
Meanwhile, the yen continued to post gains after the Central Bank of Japan (BOJ) announced another intervention to buy more Japanese government bonds to address the surge in bond yields.
The opening of the European session saw yen trading gradually recover from a six-year low it touched on Monday.
The Aussie dollar and kiwi continued to strengthen by trading higher against the US dollar after capitalizing on news of positive developments in the Ukraine-Russia negotiations.
In addition, current sentiment and the weakening US dollar also supported the Canadian dollar to also strengthen amid the modest surge exhibited by crude oil trading.
