Ukraine-Russia geopolitical tensions is one to watch but at the same time, stocks look to be well correcting on their own already if you go by the charts. The former is what may be keeping safety currencies more bid on the session with the yen, franc and dollar more buoyed.

Meanwhile, the aussie and kiwi are the laggards in a bit of a classic risk-off tilt among major currencies. Of note, EUR/CHF has fallen further to its lowest since 2015 amid all of this:

EURCHF W1 24-01

Going back to the dollar, it is keeping steadier for the most part with EUR/USD down 0.2% to 1.1323, GBP/USD down 0.2% to 1.3528, USD/CAD up 0.1% to 1.2600, AUD/USD down 0.5% to 0.7149, and NZD/USD down 0.3% to 0.6700.

NZDUSD D1 24-01

Elsewhere, European indices have extended declines since the open and are now down around 1.1% to 1.6%. This comes as US futures have also trimmed gains to around 0.2% now as the risk mood remains fairly cautious and tentative.