gbp-british-pound-coins - GBP

The Pound Euro (GBP/EUR) exchange rate is edging lower at the start of the week, trading sub €1.1750.

The Pound fell in the later part of the previous week, wiping out earlier gains despite UK economic growth in Q2 coming in inline with forecasts at 4.8%.

There is plenty of data this week to drive the Pound including UK unemployment, CPI inflation and retail sales. Expectations are for data to show that the UK economy recovery continues.

The Euro was supported last week by the weaker US Dollar, advancing despite sharp falls in economic sentiment data.

Eurozone CPI and GDP will be in focus this week. CPI inflation is expected to ease lower.