The pound euro (GBP/EUR) exchange rate is holding steady over €1.14 after very mild losses last week.
The euro struggled to gain ground last week despite hawkish comments from ECB policymakers ahead of this Thursday’s rate decision.
Attention is now on German Q4 GDP data, which is expected to stagnate at 0% QoQ. That said, there is growing optimism that Germany could avoid a deep recession.
Eurozone consumer confidence us also expected to improve, rising to -20.9, up from -22.
The pound held steady last week, limited by resurfacing Brexit and political jitters.
There is no high impacting UK economic data due to be released today. Attention will be on the BoE which is expected to hike rates by 50 basis points on Thursday.
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