The pound is strong this morning against the euro after strengthening on Friday. This week, the GBP/EUR currency pairing is likely to continue to respond to news surrounding the Ukraine conflict.
Over the weekend, G7 countries targeted Russia with a huge sanctions package and intentions to prevent Russia’s central bank from using its reserves to undermine the sanctions. This includes evicting Russian banks from The Society for Worldwide Interbank Financial Telecommunication and freezing reserve assets.
A series of PMI figures will be released for the UK this week, indicating how the economy has performed in February. Bank of England officials will also make speeches.
