GBP/EUR: the pair maintains the gains of last week

The Pound Euro (GBP/EUR) exchange rate is holding steady after gaining 0.7% last week.

The euro fell last week amid heightened tensions with Russia as Finland seeks to join NATO and Sweden is also expected to join.

German PPI inflation data is expected to hit 24% YoY in April. Eurozone economic forecasts are also due amid growing fears of a recession and a July rate hike by the ECB.

The pound was largely under pressure after the BoE warned of a recession and a shrinking economy in March. Inflation data is the main release this week, which should be a busy week for UK data releases.

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