LONDON—The euro rebounded on Tuesday, nearly erasing all of Monday’s losses, while the dollar’s losses deepened after reports some Russian troops in areas near Ukraine have started returning to their bases. Against the greenback, the single currency climbed 0.4 percent to $1.1354, and within striking distance of Monday’s high of $1.1369, as European stock markets rebounded on the news while bond yields headed higher. Some troops in Russia’s military districts adjacent to Ukraine are returning to their bases after completing drills, Russia’s defense ministry said on Tuesday, a move that could de-escalate frictions between Moscow and the West. “Russia’s decision to return some troops to their bases following the completion of some military exercises has stoked a relief rally in equities, while weighing on the dollar, gold, and oil,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. While the biggest beneficiary of the news was the rouble which …
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