The pound euro (GBP/EUR) exchange rate is rising modestly, extending gains from last week.
The pound found support last week from stronger-than-expected UK economic growth. GDP rose 0.5% MoM in June and 0.2% QoQ in Q2, up from 0.1%.
Today the UK economic calendar is quiet, but inflation and jobs data this week will be in focus.
The euro is falling after German wholesale prices fell -2.8% YoY in July, more than the -2.6% forecast. The data raises concerns over weak demand in the eurozone’s largest economy.
There is no more high impacting data today. Eurozone GDP and inflation figures will be in focus later this week.