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All Eyes On Peace Talks

All Eyes On Peace Talks

GBP has come under pressure against EUR but has recovered from recent lows against USD with markets showing heightened volatility due to the war in Ukraine, but today all eyes will be on high-level talks to be held in Turkey alongside a key central bank meeting in the Eurozone. 

President Recep Tayyip Erdogan, who has pushed for Turkey to play a mediation role, has expressed hope the talks can avert tragedy and even help agree on a ceasefire. However, analysts fear there are only slim chances of a breakthrough at the meeting.

Currency wise and as trading gets underway this morning, the firmer tone to the euro sees EUR/USD open below the 1.1050 region with GBP/EUR picking up slightly to trade circa 1.1920. Cable (GBP/USD) too has picked up to change hands just above the 1.3150 mark.

Datawise and ahead today, the main highlight will be the latest ECB monetary policy meeting. With no clear policy guidelines expected, macro projections will garner close attention. In particular, inflation forecasts for the next year or two.

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