 Euro rebounds strongly today on hope of positive development out of negotiation between Ukraine and Russia. Top Russian negotiator Vladimir Medinsky was quoted saying that talks were constructive and a Putin-Zelenskyy meeting is possible. BBC also quoted Russian deputy defence minister Alexander Fomin saying they will "radically reduce" military activity outside Kyiv and Chernihiv. Additionally, the common currency is lifted by rising German 10-year bund yield, which is above 0.7% handle for the first time since 2018. On the other hand, Swiss Franc is sold off broadly on reverse safe-haven flow, followed by Dollar. Technically, immediate focus in now on some levels in Euro pairs to confirm the underlying rebound. The levels include 1.1120 resistance in EUR/USD, 0.8456 temporary top in EUR/GBP. More importantly, break of 1.0400 resistance in EUR/CHF will resume the rebound from 0.9970 to 1.0610 key structural resistance. Further break there will be a sign of larger bullish reversal. In Europe, at the time of writing, FTSE is up 1.33%. DAX is up 2.67%. CAC is up 2.99%. Germany 10-year yield is up 0.118 at 0.700. Earlier in Asia, Nikkei rose 1.10%. Hong Kong HSI rose 1.12%. China Shanghai SSE dropped -0.33%. Singapore Strait Times rose 0.06%. Japan 10-year JGB yield dropped -0.0072 to 0.252. | 
