The pound is weaker against the euro this morning following claims that Russia will begin withdrawing forces from Ukraine’s capital, Kyiv. Sterling is also slightly weaker against the dollar.
This development follows talks between the two sides. However, the Russian Defence Minister suggested yesterday that any withdrawal of troops would simply signify that the “first stage” of the attack on Ukraine was complete, rather than an end to the conflict.
It is a light day for data in the UK today. However, Bank of England official, Ben Broadbent, will speak later this morning. Any comments that build on Governor Andrew Bailey’s speech surrounding the UK economy and energy prices could impact the pound.
