The pound euro (GBP/EUR) exchange rate is heading towards €1.16, extending losses into a third week.
The pound trades lower with the BoE in focus this week. The central bank is likely to raise rates again, but this could be the last time.
The ECB raised interest rates last week by 25 basis points to a record 4%. This could also be the last hike, although ECB President Lagarde said that rates could remain high for some time.
ECB officials Panetta and Guindos are due to speak later today and could provide some more clues over the path of future interest rates.
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