The pound euro (GBP/EUR) exchange rate booked gains across last week.
The pound pushed higher after resilient UK labour market figures and stronger than expected UK Q2 GDP data saw the market push back on BoE rate cut expectations.
The BoE now expects inflation to rise to 4% this year.
The market is not expecting the next rate cut until February next year.
The EUR fell last week after several weaker data points, including softer ZEW German economic sentiment, and Q2 GDP data, which confirmed a cooling in growth to 0.1%.
This coming week, the economic calendar is relatively quiet. Attention will be on ECB President Christine Lagarde’s speech.
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