The pound euro (GBP/EUR) exchange rate is rising after losses last week.
The euro rose last week after a series of hawkish ECB speakers which have lifted the market’s expectations of a 50 basis point rate hike again next month.
There is no high impacting Eurozone data today. Instead investors will focus on a speech from ECB President Christine Lagarde.
The pound fell last week as it remains unclear whether the BoE will hike rates in May or not. Silvana Tenreyo said on Friday that patient was needed.
This week is a big week for UK data with jobs data due tomorrow, inflation data on Wednesday and retail sales and PMIs on Friday.