The pound euro (GBP/EUR) exchange rate is rising, adding to last week’s modest gains.
The pound is rising ahead of a busy week with UK unemployment, inflation data, and Chancellor Rachel Reeves’ spending plans.
After the Autumn statement, Reeves will now set out the government’s spending priorities over the coming 3 years.
The EUR is falling after the ECB cut rates by 25 basis points last week. ECB President Christine Lagarde also noted that the rate-cutting cycle was coming to an end.
Eurozone investor confidence data will be released later today, and ZEW economic sentiment figures will be released tomorrow.