The pound euro exchange rate is rising to €1.1625 after losses last week.
The euro is edging lower after recent strong gains as it benefited from the sell-America trade.
The IMF spring meeting takes place today, and investors will watch the growth forecasts closely after warnings of downgrades.
The ECB cut rates to 2.25% last week and warned that the growth outlook is deteriorating.
The pound is rising as the market mood steadies, awaiting the next catalyst.
UK PMI and retail sales data are due this week. The BoE is expected to cut rates by 25 bps in May.
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