The pound euro (GBP/EUR) exchange rate is rising after losses last week.
The pound is supported by the improving UK housing market. According to Rightmove UK, asking prices rose by 0.1% annually in February, the first rise since August last year.
The euro is under pressure after the Bundesbank monthly report, which said that the German economy was likely in a recession but that it isn’t expected to be a severe downturn.
Last week, the euro rose after ECB President Christine Lagarde warned against raising interest rates too soon.