CNN has stated that the White House has not confirmed the prospect of US presidential Joe Biden and Russian Vladamir Putin summit, despite markets catching a bid on rumours of such an agreement between the two leaders. 

There is news, however, that Biden and Putin have accepted "the principle" of a summit over Ukraine, according to the French president, a statement from the French president Emmanuel Macron.

Meanwhile, Biden stepped up his warnings about Moscow’s plans on the weekend after seeing evidence that an attack on Ukraine was imminent.

Satellite images show a new phase of Russian military readiness and the US has intelligence that the Kremlin ordered an invasion prompted the latest Biden warning, officials say.

USD/JPY popped 20 pips on the prospects of a summit and is firming in the 115 area.