gbp-euro-coins - GBP/EUR

The Pound Euro (GBP/EUR) exchange rate is rising after dropping -0.6% across the previous week.

The Pound struggled to pick up despite strong economic data last week. Both UK retail sales and the PMI data picked up considerably as the UK economy re-opened.

However lingering Brexit concerns dragged on demand for sterling.

There is no high impacting UK data today.

The Euro is being underpinned by an improving outlook for the region. The composite PMI business activity gauge was stronger than expected in April.

Today attention will turn to the German IFO business sentiment index, which is expected to tick higher.