The Pound Euro (GBP/EUR) exchange rate is holding steady in quiet holiday thinned trade owing to a bank holiday in the UK.
The Pound managed to book mild gains in the previous week despite concerns that supply chain issues could slow the UK economic recovery.
There is no UK data due today and this week is a quiet week on the UK economic calendar.
The Euro came under pressure last week after a string of weaker than forecast numbers from Germany, the Eurozone’s largest economy.
Today all eyes are on German inflation which is expected to tick high on an annual basis to 3.9%, up from 3.8%.
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