GBP/EUR: Brexit Hopes Keep Pound Elevated Above Euro

The pound euro (GBP/EUR) exchange rate is holding steady around €1.1650 after falling last week.

The pound fell as amid growing fears that the BoE will need to hike the UK into a recession in order to tame  inflation.

Inflation data is due later this week and is expected to show inflation remains sticky at 8.2% YoY down from 8.7%.

The euro rose last week after hawkish ECB minutes indicated that the central bank is looking to hike rates several times before the end of the year.

ECB President Christine Lagarde and Chief economist Philip Lane are due to speak later today.