Euro holds gains after hopes of easing in Ukraine tensions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The euro held on to overnight gains in early Asian trade on Wednesday having jumped on reports that some Russian forces had moved away from the Ukraine border, though, with tensions still elevated, the common currency failed to make further progress.

The Russian Defence Ministry on Tuesday published footage to demonstrate it was returning some troops to base after exercises, however, US President Joe Biden said the United States had not verified the move.

The Australian dollar, typically seen as sensitive to risk sentiment, echoed the euro, rising 0.37% on Tuesday, before steadying. Overall, the dollar index which measures the greenback against six major peers, lost ground on Tuesday and was at 96.008.The greenback “shed ground overnight as the Ukraine geopolitical risk premium came out of markets, but expectations of an aggressive Fed hike cycle should keep a base for the in place,” said analysts at Westpac in a morning note to clients.

 

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