The euro has been given a boost against both the pound and the dollar. This is due to hopes of a de-escalation in the Ukraine war, due to news that Russia may begin withdrawing troops from Kyiv.
The single currency could continue to react to news surrounding this and to the outcome of peace talks. Ukrainian President Volodymyr Zelensky said Tuesday’s talks showed some positive signs, but they do not drown out the explosions of Russian shells.
President of the European Central Bank, Christine Lagarde, will speak later this morning. This will then be followed by German inflation data, which is expected to show a rise.
