As the markets continue to focus on the ongoing energy crisis, the pound is still strong against the euro but weaker against the dollar this morning.
The euro is suffering due to surging gas prices, which have risen faster in Europe than in the UK. Reports suggest that Russia will now attempt to increase its gas supplies to Europe, which should aid the situation.
A possible temporary solution to the US’ debt ceiling crisis was discussed between Democrats and Republicans yesterday, weakening the dollar slightly. However, the greenback has broadly retained its strength due to the ongoing energy crisis.
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