The pound euro (GBP/EUR) exchange rate is falling, extending last week’s losses.
The pound is under pressure after the CBI survey showed that UK business confidence has fallen to its lowest level in 2 years following the Budget.
The UK services PMI was also downwardly revised to 51.1 from 51.4 in the preliminary reading.
The euro is rising amid reports that the Trump administration could consider less aggressive trade tariffs.
Eurozone composite PMI was upwardly revised to 49.6 up from 49.5 owing to stronger service sector growth.
German inflation was hotter than expected at 2.6% up from 2.2% in November.
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