Friday saw unexpectedly strong UK retail sales figures in January, helping the GBP/EUR rate over the 1.20 barrier and the GBP/USD trading around $1.5850.  The lowering levels of inflation appear to be enticing shoppers back to the high street. 

EU finance ministers meet today amid speculation that Greece have finally done enough to merit their €130 billion second tranch of bailout funding.  We have already seen a slight dip in trading levels this morning for GBP/EUR after George Papademos met with Eurozone officials over the weekend.  Meanwhile the Greek finance minister, Evangelos Venizelos, has been quoted as saying: "We expect today the long period of uncertainty -- which was in the interest of neither the Greek economy nor the euro zone as a whole -- to end,"  

Later this week we have the release of the Bank of England minutes where we will hopefully gain a better insight into future monetary policy prospects.