The pound euro (GBP/EUR) exchange rate is falling after modest losses last week.
The pound is falling amid rising nerves ahead of the Budget later this week. Data shows the confidence levels of businesses are falling due to worries over what the Budget could mean for their tax burden.
The euro is rising, but gains could be limited. The ECB is expected to cut rates again in December, as inflation has fallen below the ECB’s 2% target and as the growth outlook deteriorates.
This week is a busy week for eurozone economic data.