The pound euro (GBP/EUR) exchange rate is holding steady below €1.16, after losses last week.
The pound came under pressure amid concerns over the slowing economy after weak manufacturing PMI data.
BoE Governor Andrew Bailey warned over the income shock in the UK. Today there is no high impacting UK data.
The euro rose versus the pound last week after hawkish comments from ECB’s Christine Lagarde. Eurozone inflation reached a fresh record high of 8.6% YoY.
German trade data is due today and later in the week the focus will be on the minutes to the latest ECB meeting and EC growth and inflation forecasts.
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