GBP/EUR: Pound Shakey vs. Euro Ahead of Brexit Bill Debate
  • Brexit optimism continues to support Pound (GBP) in quiet session
  • Packed UK beaches raise concerns of second wave
  • EU US trade tension drag on Euro (EUR)
  • Pound Euro exchange rate (GBP/EUR) on track for 0.2% gain across the week, after declining -0.7% last week

The Pound is extending gains versus the Euro on the final day of the trading week. The Pound Euro exchange rate settled on Thursday + 0.7% at €1.1070, slightly down from the weekly high of €1.1111 reached earlier in the session.

At 05:15 UTC, GBP/EUR trades +0.1% at €1.1077, as the pair stays in familiar territory.

Brexit remains in focus ahead of Brexit trade talks which begin again next week. Comments by EU Chief Negotiator Michel Barnier, that a deal was still possible boosted the Pound in the previous session and continues to under pin sterling on Friday.

Just a day after scientists warn that the UK is likely to experience a second wave of coronavirus infections, for easing lockdown measures to soon, Britain’s beaches were full to the brim with huge crowds flocking to the coats. For now, the financial markets are looking past this fear with the Pound pushing higher and the UK stock market pointing to a stronger start.

There is no high impacting UK data due for release today. Attention could turn towards the Bank of England quarterly bulletin.

The Euro traded broadly lower in the previous on weak risk sentiment. The World Health Organization warned that the number of coronavirus cases were once again on the rise in Europe, with 20,000 new cases a day being reported and 700 deaths.

A rising number of cases across the globe has weighed on sentiment across the week, as concerns grow that the fragile economic recovery could be knocked off course.

Trade tensions with the US continue to be a thorny issue for the common currency after reports that the White House is prepared to apply tariffs on $3.1 billion worth of EU goods. Germany is considering striking back against President Trump and could try to pressure him with coordinated EU tension.

With no high impacting Eurozone data, today could be a relatively quiet session. 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.