The pound euro (GBP/EUR) exchange rate is climbing higher on Monday after losses last week.
The pound fell as inflation, recession fears grew. Retail sales contracted by 0.5% as shoppers changed their habits as prices rose.
There is no high impacting UK data today. UK GDP figures later in the week will be in focus.
The euro rose last week despite weak data and stagflation fears. PMI figures and German IFO data highlighted to deteriorating outlook.
There is no high impacting EU data today but attention will be on ECB’s Lagarde who is due to speak