It all started with markets fearing the worst, that is Russia stepping up its aggression before the US and allies started to realise that perhaps something is amiss here. That was enough for the risk mood to recover a little but now we are seeing a better recovery ahead of European trading as US officials suggest that the Poland blast might have been Ukraine's fault.
S&P 500 futures were down around 0.3% earlier but has now erased losses as market sentiment picks up.
This is seeing the dollar lose a bit of ground across the board with the likes of the aussie and kiwi turning flat against the greenback as well. EUR/USD has also pulled itself from around 1.0340 to 1.0370 at the moment as the dollar slips a little.
