The pound euro exchange rate (GBP/EUR) is rising, adding to last week’s gains.
The euro is falling despite industrial production in the region rising 0.8% MoM, after slumping 3% in January.
Last week the ECB signaled that it would cut interest rates in June, which is keeping the EUR under pressure.
The pound is extending last week’s gains. UK GDP data on Friday showed that the economy grew 0.1% MoM in February after 0.3% growth in January.
The UK has likely moved out of a narrow recession at the end of last year.
UK jobs data and inflation data are due this week.
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