The dollar dropped on Wednesday, with the safe-haven currency hitting a nearly two-week low, while the euro rose on cautious optimism over peace talks between Russia and Ukraine.

The dollar index, which measures the greenback against a basket of six peer currencies, was down 0.56% at 97.85, having earlier touched its lowest level since March 17.

The euro rallied against the dollar to hit its highest since March 1, up 0.60% at 1.1152.

The moves came as investors adjusted their defensive bets following Russia’s promise during peace talks on Tuesday to reduce its attack on Kyiv.The developments in the talks marked "a surprising and important shift in tone … suggesting that the conflict may be moving to a more localized phase with some of the more extreme tail risk scenarios reducing in probability," analysts from JPMorgan said in a note to clients.Together with developments including surging inflation in Europe, the shift prompted […]

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Euro at one-month high vs dollar on hopes over Ukraine talks – CNBC

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