The pound is strong against the euro and weaker against the dollar this morning as the Ukraine conflict continues to impact the currency markets.
Over the weekend, Putin announced that Russia’s nuclear forces are on high alert and G7 countries released a huge sanctions package. The Ukrainian cities of Kyiv and Chernihiv remain in Ukrainian hands and Ukrainian officials have denied claims that Russian forces have seized the largest power station in Europe.
Officials will meet today at the Belarus border for peace talks.
The euro continues to be heavily impacted by events in Ukraine, whilst the dollar is benefitting from its status as the world’s default ‘safe-haven’ currency.
Federal Reserve Chair, Jerome Powell, will make his testimony in front of Congress on Thursday. The markets will be listening for any suggestion of policy changes due to the volatile nature of the markets.
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