Problem setting the key \¤

[Nordlöw]

I am trying to set the key meta-¤ (to the left of % on my swedish
keyboard) like follows:

(global-set-key [(meta \¤)] 'regexpl-search-replace-list)

but it doesn't work, nothing happens when I press the combination. Why
is that when the following works:
(global-set-key [(meta \&)]       'query-replace-regexp)

Thanks in advance,
Nordlöw