Pound Rebounds With Hope over U.S. Dollar in Soon To Be Revealed UK Manufacturing PMI

The Pound Euro (GBP/EUR) exchange rate is moving lower after strong gains last week.

The Pound rose last week, supported by strong data which boosted expectations that the BoE could look to tighten monetary policy further when they meet again in March.

UK service sector PMI is expected to rise in February to 55.5, up from 54.1 in January.

The euro has been moving according to the latest Russia, Ukraine headlines, with optimism surrounding a diplomatic solution lifting the euro.

Eurozone PMI’s are also expected to rise with the composite forecast to rise to 52.7, up from 52.3.