Risk assets are back on the rally as traders switched on the risk radar in trading Thursday, damping demand for safety, but instead, on higher-yielding assets including stocks, euro and the pound, after German confidence data outperform and flat jobless claims in the U.S came in to spur on the sentiments that are still crippled over Greece's vague outlook.

These cautious sentiments were already tingled early today after the Munich-based IFO institute said that February business confidence in Germany rose to a seven-month high of 109.6 after recording 108.3 in January, fueling hopes that the euro-area economy can rebound from its swelled debt crisis.

Moreover, new applications for unemployment benefits in the U.S were unchanged in the February 18 week, at 351 thousand from the prior week, still around the lowest levels since the early days of the 2007-2009 recession, adding to signs the stressed labor markets is picking up so far.

The Greenback trimmed early gains versus its major counterparts, driving the Dollar Index, which tracks the performance of the dollar versus 16 of its peers, to trade around 78.93 after recording a low of 78.76. The index started the trade at 79.15 and printed a high of 79.17.

The yellow metal kept on the shine amid the dollar's lame performance during the session, as the metal rose to the highest level since November, and now at $1786.31 an ounce from the opening level of $1775.64. Crude oil for April delivery rose to $106.64 a barrel the highest since May.

The 17-nation currency shacked early gain against its U.S counterpart, after recording a high of $1.3342. The EUR/USD trades around $1.3319 and recorded a low of $1.3231 from the opening price of $1.3255. The pair is seeking to breach the key support at $1.3350 as the $1.3250 key resistance remains intact.

The British Pound gained versus its U.S counterpart, after the pair started trading at $1.5669 and recording a high of $1.5731 and a low of $1.5650, and now the GBP/USD trades around $1.5704. The pair seeks to breach the $1.5730 key support as the $1.5680 key resistance remains in check.

The greenback fell versus its Japanese counterpart, driving the USD/JPY down from the opening level of 80.27 yen and after recording a high of 80.34 to currently trade at 80.09 yen from a low of 80.04 yen. The pair is testing a key support of 80.00 yen, but for the now, the key resistance stays at $80.20 yen.