The Pound Euro (GBP/EUR) exchange rate is treading water at the start of the week, holding over €1.16.

The Pound is consolidating after strong gains across the previous week. The UK economic reopening kicks off today with the reopening of schools across the UK. Covid cases and deaths continue falling.

Attention now turns to the BoE Governor Andrew Bailey who is due to speak later today. Investors will be looking for clue over the central bank’s stance on bond yields.

The Euro has been under pressure amid a strong US Dollar and weak Eurozone economic data.

German industrial production and Eurozone Sentix data are due to be released.