20-10-eur-bank-notes - EUR

The Pound Euro (GBP/EUR) exchange rate is edging a few points lower on Monday, but remains over €1.20.

The Pound capitalized on a weaker Euro in the previous week, gaining ground despite political troubles for Prime Minister Boris Johnson.

Latest CBI data showed the business growth slowed by the most since April 2021 in December, owing to the Omicron hit.

Attention this week will be firmly on the BoE which is expected to hike interest rates.

The Euro dropped last week, hurt by strong demand for the US Dollar after a hawkish Federal Reserve.

Eurozone GDP data is due and is expected to show that economic growth slowed in the bloc significantly in Q4.