GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro (GBP/EUR) exchange rate is edging a few pips higher towards €1.1850.

The Pound advanced last week as BoE rate hike expectations overshadowed rising Brexit tensions.

The Bank of England are widely expected to hike interest rates at the monetary policy meeting on Thursday.

Today all eyes will be on the final manufacturing PMI for October, which is expected to confirm 57.7, up from 57.1.

The Euro failed to gain across the previous week after the ECB stuck to the well-rehearsed verse that elevated inflation was transitory. Inflation in October came in above forecasts at 4.1%, up from 3.6%.

Today attention will be on German retail sales which are expected to rise 0.6% MoM, down from 1.1% in August.