The pound euro (GBP/EUR) exchange rate is rising, adding to gains last week.
The pair rose despite the BoE leaving interest rates on hold, but warned that rates could stay high for longer. UK services PMI was also upwardly revised to 49.5 from the preliminary reading of 49.2.
Today attention will be on a speech by BoE chief economist Huw Pill for further clues over the outlook for the UK economy and interest rates.
The euro is falling despite an unexpected rise in German factory orders, which rose 0.2% MoM. Economists had expected a 1% decline.
Eurozone composite PMI data is up next and is expected to confirm a deeper contraction in business actibity in October. Weak data could hurt the euro.
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