The pound euro (GBP/EUR) exchange rate is rising after losses last week.
The pound is rising after UK data signaled economic resilience ahead of November’s budget. The composite PMI rose to 51.1 in October, above expectations, suggesting modest growth across services, manufacturing, and construction.
Retail sales also surprised, jumping 0.5% in September, boosted by iPhone demand and gold purchases.
The euro gained against the dollar but slipped versus the pound after Germany’s Ifo business sentiment improved to 88.4, up from 87.7 and beating forecasts of 88.
Attention now turns to the ECB’s rate decision on Thursday, where the central bank is expected to leave rates unchanged.