The euro has strengthened against the pound and has begun to make some gains against the dollar.
This is due to reports that the European Central Bank could be announcing plans for EU countries to release joint bonds “to finance energy and defence spending”. This is seen as the EU presenting itself as a united front against Russia, which has improved the mood of the market, causing the euro to strengthen.
The European Central Bank will hold its latest meeting followed by a press conference tomorrow and the plan could be revealed then.
