The headline from the Kremlin here was the trigger but to be honest, it didn't say much that we don't already know. The Biden-Putin meeting was no done deal even from the get-go here. But I guess the fact that Moscow themselves aren't pushing the issue, maybe is leaving investors feeling rather uneasy in European trading.
Regional indices have pared gains with some trading lower on the day now. Meanwhile, S&P 500 futures (which were up 0.9% earlier) is now just up 0.2% as the early optimism has faded considerably.
In FX, the impact is less significant with AUD/USD still up 0.6% to 0.7215 and near the day's highs. The euro did shed some gains against the dollar with EUR/USD seen at 1.1360 from a high of 1.1390 earlier. Meanwhile, USD/JPY is keeping lower down by 0.1% at 114.89.
