The pound euro (GBP/EUR) exchange rate is inching higher after losses last week.
The pound is rising ahead of the Chancellor’s Spring Budget on Wednesday. However Chancellor Hunt is playing down te likelihood of larger tax cuts given the position of the UK economy.
UK services PMI data is due this week, but is the second reading so is not expected to be market moving.
The euro is edging lower ahead of Thursday’s ECB interest rate decision. The central bank is expected to leave rates unchanged at 4%.
Will policymakers provide clues about when a rate cut could be coming?
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