Market News
Pound rises on hopes of Ukraine truce - YAHOO FINANCE
Pound (GBPUSD=X)
The pound was slightly higher against the dollar in early European trading, at $1.2587, driven by the proposal of a new Ukraine peace deal involving an initial one-month truce.
Emmanuel Macron said France and Britain are to propose a one-month truce in Ukraine “in the air, at sea”. European soldiers would only be deployed on the ground in the second phase of a potential peace deal, the French president told Le Figaro.
The UK government has made clear that the proposal is not agreed, with defence minister pushing back on claims on Monday morning.
The US dollar index (DX-Y.NYB), which tracks the greenback against a basket of six major currencies, dropped to around 107.39 from an over two-week high of 107.65 posted on Friday. Technically, signs of easing geopolitical tensions diminish the safe-haven appeal of the dollar.
Meanwhile, sterling was just above the flatline against the euro (GBPEUR=X) on Monday morning, at €1.2056
