The pound euro (GBP/EUR) exchange rate is rising, rebounding from losses last week.
The euro is under pressure following weaker than expected German IFO business climate data, which fell to 88.5 from 91.5. Forecasts had been for a decline to 90.7. The data fuels recession fears in the eurozone’s largest economy.
The ECB central bankers forum kicks off today with ECB President Christine Lagarde speaking.
The pound is rising, extending gains from Friday after stronger than expected retail sales. Sales rose 0.3% defying expectations of a fall of -0.2%.
There is no high impacting UK economic data today.