The pound euro exchange rate is edging higher, adding to last week’s gains.
The pound gains as European banking sector jitters remain despite UBS buying troubled lender Credit Suisse for CHF 3 billion, with billions in SNB and state support.
UK inflation and the BoE interest rate decision are due this week. The BoE is expected to hike by 0.25% but this is not certain given the uncertainty in the financial markets.
The euro fell last week, despite the ECB hiking rates by 50 bps as expected.
Today German PPI is expected to fall to q14.5 YoY in February, from 1q7.8% in January.
ECB President Christine Lagarde is also due to speak.
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