The pound strengthened against the euro at the end of last week, as news from the Russia-Ukraine border weighed on the single currency. However, it is slightly weaker this morning. The Ukraine crisis could continue to impact the pair over the coming week.
PMI data for the UK is due to be released later today, which will indicate how the economy has performed so far in February. The service sector is expected to have grown at a faster pace in February than the previous month, whilst manufacturing is predicted to have slowed slightly.
There will be a series of speeches from Bank of England officials this week, including Governor Andrew Bailey. On Wednesday, there will be testimonies to the Treasury Select Committee where officials will be expected to answer questions on the February Monetary Policy Report and inflation.
