The pound softened slightly on Monday but remained close to its strongest in three weeks against the euro, a level touched the week before on expectations the European Central Bank will cut rates before the Bank of England. Those expectations, which depend on the British economy holding up better than the euro zone's, will be tested this week by remarks on Wednesday by Bank of England governor Andrew Bailey before Parliament and monthly GDP data due Friday. The euro was at 86.15 pence, up 0.17% on the day and just above from the 85.995 pence hit Friday, the pound's strongest since mid December.
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