The euro weakened against the pound and the dollar at the end of last week, however it is recovering this morning. It continues to be driven by news of the Ukraine crisis.
News of a possible summit between President Biden and President Putin has caused the euro to strengthen against both the pound and the dollar this morning. The White House has said that Biden has accepted the meeting “in principle” and the details about when or if it will happen remain unclear.
The European Union has shown support for a meeting between the two leaders. Meanwhile, the Ukrainian defence minister has said that a Russian attack isn’t imminent.
German PMI figures will be released this morning, giving an indication of how the economy performed in February.
