Easing Russia-Ukraine tensions lifted risk sentiment and undermined the safe-haven greenback.The AUD/USD pair
retreated a few pips from the weekly high touched earlier this Friday and was last seen trading just above the 0.7200 mark, still up over 0.35% for the day. Following the previous day's modest losses, the AUD/USD pair attracted fresh buying on the last day of the week and build on the recent bounce from the 0.7085 region, or the weekly low touched on Monday. The US Secretary of State Antony Blinken accepted an invitation to meet Russian Foreign Minister Sergei Lavrov late next week and raised hopes for a diplomatic solution to the Ukraine crisis.
Market participants now look forward to the US Existing Home Sales data, due for release later during the early North American session. This, along with fresh geopolitical developments and the broader market risk sentiment, will influence the USD and produce some trading opportunities around the AUD/USD pair.