Euro Gains Ground as ECB Minutes Loom

The Pound to Euro exchange rate has been trending lower in recent days, with Sterling currently trading at around €1.1665, down roughly 0.2% from last week's start.

Last week's UK economic data failed to build confidence amongst GBP investors, and the lack of fresh domestic catalysts is expected to keep pressure on the Pound.

The European Central Bank's (ECB) minutes from its July policy meeting are set to be published this week, which could offer direction to the Euro. If the minutes indicate that policymakers are open to tightening monetary policy in the short-term, it may bolster bets for a September rate hike and lift the single currency.