• GBP rises as Boris Johnson sets out lockdown easing timetable
  • Brexit headlines could keep pressure on GBP going forwards
  • German GFK consumer confidence to pick up as lockdown eases
  • At 06:15 UTC, GBP/EUR is +0.1% at €1.1192 >> Real time exchange rates

The Pound is extending gains versus the Euro for a fifth straight on Tuesday. The Pound Euro exchange rate settled on Monday at +0.1% at €1.1183 as investors cheer the governments clarity of easing lockdown measures.

At 06:30 UTC, GBP/EUR is trading +0.1% at €1.1192 as the p air looks to attack €1.12.

This week is a quiet week for the Pound as far as economic data is concerned, leaving coronavirus and Brexit driving sterling.

The coronavirus statistics are moving in the right direction with double digit daily deaths reported on Monday. Boris Johnson announcing that all shops, department stores and shopping malls will open again as from 15th June was well received. The PM set out a clear timeline for business to return trading as long as they complied with government guidelines. The moves to ease lockdown measures are good news for the UK economy and therefore the Pound.

However, any gains in the Pound could be limited as news flow surrounding UK -EU trade negotiations are expected to pick up and remain negative for the Pound.

A hard Brexit remains on the cards if there are no extensions to the transition period. The deadline to request an extension is next month. Pressure has been mounting on Boris Johnson to extend the transition period owing to the coronavirus crisis. The decisions must be taken by 30th June. So far Boris Johnson and his team have shown no interest in extending the timeline. As a result, the coning weeks could see demand for the Pound fall away.

Sentiment data is driving the Euro so far this week. The Euro showed resilience versus major peers on Monday following better than forecast German IFO sentiment data. The data revealed that German business expectations picked up as lockdown is lifted. Business are slowly becoming more confidence about their outlook for the rest of this year after a catastrophic few months. The main business climate index rose to 79.5 in May, up from the record low of 74.3 in April.

Today sentiment data will remain in focus with the release of GFK German consumer confidence figure for June. Analysts are expecting a slight rebound, which could help to underpin the common currency. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.