The pound euro (GBP/EUR) exchange rate is rising adding to gains from last week.
The pound rose last week after a string of stronger-than-expected data, including inflation which remains in double digits. The data raises pressure on the BoE to keep raising intertest rates.
This week is a quieter week for UK data. There is no high impacting UK data today.
The euro has been supported by hawkish ECB comments as the central bank could hike rates by 25 or 50 bps in the May meeting.
German IFO business climate data is in focus and is expected to improve to 94 in April, up from 93.3. A stronger business climate could lift the euro.
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