The pound has hit a 5-year high against the euro this morning, its highest level since July 2016.
This is due to UK government bond yields recovering after falling yesterday, as well as the FTSE 100 recovering after falling over the last week.
Later today, PMI figures will be released for the UK, which will give an indication of how the services and manufacturing industries have performed in February. The figures for both industries are predicted to exceed 60 points, meaning that growth is expected to have taken place last month.
In a speech yesterday, Bank of England official, Jon Cunliffe, said that the conflict in Ukraine would add risks to the already volatile financial markets.
