German Chancellor Scholz: Not feasible today to source sufficient gas needed by Germany without Russia imports

In a joint press conference alongside UK PM Boris Johnson on Friday, German Chancellor Olaf Scholz said that it is not possible to source the amount of gas that Germany needs without Russia, reported Reuters. However, he noted that he thought Germany would be able to substitute Russian oil imports this year, and said that Germany is optimistic that it is going to be able to end Russian gas imports (though he didn't give a time frame). 

 

ECB reportedly creating a crisis tool in case bond yields jump - BBG

The European Central Bank is creating a crisis tool to address a jump in bond yields, Bloomberg reported on Friday.
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GBP/USD recovers after reaching a 17-month-low below 1.3000, back around 1.3020s

The British pound collapsed at one time under the 1.3000 mark early in the North American session, reaching a one-year and half fresh low at 1.2982. H
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