The euro rose on Tuesday on hopes of progress in peace talks between Ukraine and Russia, although risk appetite waned due to the rising number of COVID-19 infections in China.<\/p>\n\n\n\n
On Tuesday, talks between Ukrainian and Russian negotiators to ease the crisis are expected to resume after video-conference talks after which no progress was reported.<\/p>\n\n\n\n
Brent crude futures extended losses on Tuesday to a two-week low after ceasefire talks between Russia and Ukraine eased fears of further supply disruptions.<\/p>\n\n\n\n
“This reflects the hope that the talks between the Russian and Ukrainian negotiators might lead to an imminent and peaceful solution after all,” Commerzbank forex analysts said in a note to clients in reference to the decline in oil prices.<\/p>\n\n\n\n
The euro rose 0.55 percent to 1.0999 against the dollar.<\/p>\n\n\n\n
The US dollar index, which measures the value of the US currency against other major currencies, fell 0.3 percent to 98.808.<\/p>\n\n\n\n
The yuan settled at 6.3999, after hitting its lowest level since October 2021 last night at 6.4095.<\/p>\n\n\n\n
On Tuesday, China recorded a big jump in daily COVID-19 infections, more than doubling the previous day, after imposing a rare travel ban on Shenzhen, the technology center in the south of the country.<\/p>\n\n\n\n
The Japanese yen rose 0.3 percent after falling to a five-year low against the dollar at 118.44 overnight, while the Bank of Japan is preparing to maintain its ultra-loose monetary policy this week.<\/p>\n","protected":false},"excerpt":{"rendered":"
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