The Australian Dollar, which has gained the most value versus the US dollar, was buoyed by the action.
According to reports, Washington will impose a 200% tax on Russian aluminum within the next two weeks.
After strong wage statistics fueled rumors that the Bank of Japan could rethink its ultra-loose monetary policy, the Japanese Yen strengthened.
With the WTI futures contract close to US$ 74.75 barrel and the Brent contract just above US$ 81.50 bbl, crude oil is somewhat stronger. At the time this article is going to press, the price of gold is around $1,875 per ounce.
Other news includes an agreement by the New York Stock Exchange (NYSE) to pay 60% of claims resulting from the trading hiccup last month.
The address by Fed Chair Jerome Powell at the Economic Council in Washington will be the main topic of discussion later today.