The pound weakened against the euro throughout the course of last week and is trading around the same levels this morning.
The Ukraine conflict, as well as the Bank of England’s monetary policy meeting on Thursday could impact sterling this week.
Despite this, the Bank is expected to hike the interest rate from 0.5% to 0.75%. If this expectation is not met and/or if officials express a more cautious approach to raising interest rates due to the war in Ukraine, the pound could suffer.
Before the meeting on Thursday. Employment figures will be released for the UK tomorrow. The unemployment rate for January is expected to decrease slightly from the month before.
