The pound euro (GBP/EUR) exchange rate is heading lower after losses last week.
The euro is rising after the first round of the French election results showed that the far-right National Rally party was unlikely to be able to win an absolute majority in the second round of voting on Sunday July 7th.
Tgis eased concerns of high fiscal spending and rising debt levels in the next government.
German inflation was cooler than expected at 2.2%, pulling EUR down from session highs.
The pound is falling after manufacturing PMI data unexpectedly fell in June to 50.9 from 51.2. Expectations had been for a rise to 51.4. However, input costs rose.
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