The pound continues to strengthen against the euro and is currently trading around a post-Brexit high. Markets are constantly reacting to the Ukraine conflict, which escalated last night as Russian troops seized a Ukrainian nuclear power plant.
Several UK government officials have spoken about the crisis. UK defence secretary Ben Wallace said that the “brutality” of Russia’s miliary action in Ukraine could “get worse”, but it is not too late for Putin to end his invasion. Foreign secretary Liz Truss added that Russia’s economy must be “crippled” to stop it from funding the war.
Meanwhile, PMI figures for the UK, which show how the services and manufacturing industries perform each month, rose in February but did not quite meet market expectations. It’s a quiet day for UK data today.
