The Pound Euro (GBP/EUR) exchange rate is ticking a few pips higher.
The Pound recovered at the end of last week from an earlier sell off. The upward revision to UK Q2 GDP the services PMI helped cool fears of stagflation.
The economic calendar is quiet this week meaning that macro themes could drive the Pound.
The Euro declined at the last week after disappointing German retail sales and services PMIs for the bloc.
Eurozone inflation came in at a 12 year high at 3.4% year on year with prices forced higher amid the ongoing energy crisis.
The start of the week is quiet on the Eurozone economic calendar.
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