euro-bank-notes - EUR

The pound euro exchange rate is rising for a third straight day and is set to rise across the week, marking the third week of gains.

The euro is falling despite the ECB rising interest rates by 25 basis points taking the rate to 3.23%. ECB President Christine Lagarde was clear that more work needs to be done to tame inflation.

Eurozone retail sales are due and are expected to fall -0.1%.

The pound rose yesterday after data showed that the service sector expanded at a faster pace than initially expected at 55.9, up from 52.9 in March.

There is no high impacting UK data today, investors will look ahead to the BoE rate decision next week.