The pound euro (GBP/EUR) exchange rate is edging lower on Monday after gains last week.
The pound is struggling amid a quiet economic calendar and despite an encouraging update from Rightmove regarding the UK property market.
Estate agents reported a 19% increase in buyer interest in August compared to a year earlier, up from 11% in July. An improving housing market can boost consumer confidence.
The euro is rising modestly despite a lack of fresh data. Attention will turn to Eurozone inflation data tomorrow, which is expected to confirm CPI’s rise to 2.6% YoY in July.