The Pound to Euro exchange rate is forecast to recover last Friday's losses over the course of the coming week, but much will depend on the release of UK and Eurozone PMI figures for April.
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Pound Sterling fell after Bank of England Monetary Policy Committee member Dave Ramsden raised the odds of June rate cut.
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"Overall, we maintain a relatively positive bias on GBP vs. EUR" - Nomura.
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The Pound to Euro exchange rate could see volatility this week - albeit within a constricted range - as we navigate the release of UK wage and inflation data.
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Euro exchange rates are under pressure ahead of the weekend amidst signs members of the ECB's Governing Council are agitating for interest rate cuts.
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Euro exchange rates were broadly softer after the ECB announced interest rates would be kept unchanged but indicated that it was on course to cut them in June.
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The Pound to Euro exchange rate has risen ahead of the European Central Bank's March interest rate decision, with analysts saying the Eurozone's single currency saying it looks cheap.
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