gbp-british-pound-coins - GBP

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.