GBP/EUR: Gloomy Brexit News Weigh On Pound vs. Euro

The Pound Euro (GBP/EUR) exchange rate is holding steady after gaining 0.7% last week.

The euro fell last week amid elevated tensions with Russia as Finland looks to join NATO and Sweden is likely to as well.

German PPI inflation data is expected to rise to 24% YoY in April. Eurozone economic forecasts are also due amid rising concerns of a recession and a July rate hike from the ECB.

The pound has broadly been under pressure after the BoE warned of a recession and economy contracted in March. Inflation data is the key release this week what is expected to be a busy week for UK data releases.