The pound euro (GBP/EUR) exchange rate is falling at the start of the week after a flat week last week.
The euro found support last week from stickier-than-anticipated inflation and hawkish ECB comments which resulted in investors pricing in a 4% terminal rate from the ECB.
Today eurozone retail sales are expected to rebound to 1% MoM in February up from -2.7% in March. Eurozone investor sentiment is expected to slip slightly to -8.6 in March from -8.
The pound was supported by an upward revision to business activity data and particularly the services PMI, which helped to ease recession fears.
Mixed messages from the BoE limited gains in the pound.
Today, UK construction PMI data is in focus and is expected to tick high to 48.5, from 48.4.