Euro Stalls Against Pound as German Data Takes Center Stage

The Euro remains stuck in the mid-0.8500s against the Pound Sterling on Monday, unable to sustain its push towards 0.8580 last week.

This range is unlikely to break without a fresh catalyst, and that's exactly what Germany's GDP data and IFO business surveys will provide on Tuesday.

The German economy is expected to remain subdued in the second quarter, with the headline IFO Business Climate index set to edge up to 87.2 from 86.6, while current-conditions and expectations gauges also point higher.

In contrast, there's little on the UK docket to give the Pound its own momentum, leaving the cross to trade off the relative outlook for the European Central Bank (ECB) and the Bank of England (BoE).