The Pound Euro (GBP/EUR) exchange rate is treading water around €1.14 waiting for fresh impetus.
The Euro is being supported by recent USD weakness along with reducing political risk in Italy as Mario Draghi, former European Central Bank Governor continues talks with Italy’s largest parties to form a government. The results could be known by the end of the week.
German inflation data for January is expected to confirm the 0.8% month on month growth.
According to the British Retail Consortium UK retail sales rose at the slowest pace since the first lockdown as the lockdown started to hit.
There is no high impacting UK data until Friday’s Q4 GDP reading. BoE Governor Andrew Bailey is due to speak later