The pound euro (GBP/EUR) exchange rate is rising after falling steeply across last week.

The euro gained last week after the ECB raised interest rates by 50 basis points & indicated that another large rate hike could be on the cards for March.

Today attention is on a barrage of data, including German factory orders, eurozone retail sales and eurozone investor sentiment, which could influence the common currency.

The pound fell after a more dovish than expected BoE meeting, despite the central bank hiking interest rates by 50 basis points.

BoE policy maker Catharine Mann is due to speak today. There is no high impacting UK economic data due until Friday when Q4 GDP data is due to be released.