The Pound Euro (GBP/EUR) exchange rate is holding steady around €1.1650 after losses in the region of 0.9% last week.
Concerns over the health of the UK economy and fears of recession dragged on the pound last week.
Concerns over a scandal prone government have also hurt demand for the pound. Could the PM face a vote of no confidence today?
The euro managed to gain ground despite disappointing data. Retail sales plunged -1.3% YoY as prices rise.
The ECB are due to announce its interest rate decision this week.
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