All eyes are on the Federal Reserve’s interest rate decision today, which will be revealed later this evening. Officials are expected to pave the way for an interest rate hike in March, however the markets will be listening closely to any details surrounding the timing of hikes and the tapering of monetary policy for the rest of this year.
The pound is stronger against the euro this morning after falling earlier this week. Both a rebound of the FTSE 100 and expectations for the Bank of England to raise interest rates next week are supporting sterling.
The situation in Ukraine is weighing on the euro, which has weakened against the dollar. US troops have been put on alert to be deployed if tensions escalate.
Reports this morning reveal that Sue Gray’s inquiry into illegal gatherings at Downing Street could be published as early as today, after the Metropolitan Police made no objection to its publication.
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