The Pound Euro (GBP/EUR) exchange rate continues to pick up from monthly lows reached in the previous week.
The Pound came under pressure last week after BoE Governor Andrew Bailey warned that the economy still hadn’t recovered from the pandemic.
Today service sector PMIs from the UK is expected to confirm strong growth. Friday’s GDP data for the second quarter will be key.
The Eurozone will also be releasing PMI data which will be closely watched as the bloc’s economy ramps up after the third covid hit.
Eurozone Sentix Sentiment data will also be closely watched.