The pound is still struggling against the euro and the dollar this morning due to concerns over both the UK and the global economy. Typically, the pound tends to move with the global markets and as they are currently under pressure, so is sterling.
The euro continues to suffer against the dollar as the Ukraine crisis continues. Russia has now cut off gas supplies to Poland and Bulgaria after they refused to pay for it in roubles. The EU says that Russian gas supplier, Gazprom, is in breach of contract.
Polish ministers have said that the country has sufficient supplies to cope with the halt.
Meanwhile, it’s a different story for the US dollar, which is benefitting from this escalation in tensions as a ‘safe haven’ currency.
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