The pound euro (GBP/EUR) rose for a fourth straight week last week, pushing over €1.1650 and continues to hold above here at the start of the new week.
The euro fell last week after inflation eased by more than expected to 10% YoY from the record 10.6%.
Today attention remains on data with the release of Eurozone composite PMI data, Sentix investors’ confidence and retail sales.
The pound rose last week despite data being in short supply, as the pound benefitted from the risk on market mood.
Today the UK services PMI is expected to confirm that the UK economy is contracting.