The Pound Euro (GBP/EUR) exchange rate is holding steady around €1.1550 after a strong week of gains.
The Pound has been well supported on reopening optimism amid a strong covid vaccination programme.
Today there is plenty of data for Pound traders to focus on, kicking off with UK retail sales for January. Given the lockdown conditions across the first month of the year, consumer spending is expected to be weak. Retail sales are expected to decline -2.5% MoM.
The Euro came under pressure as the ECB minutes revealed a continued dovish stance from the central bank.
Looking ahead Eurozone PMI data for both manufacturing and service sector could drive movement in the common currency.
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