GBP/EUR: Pound Resilient After May's Crushing Brexit Defeat

The Euro US Dollar exchange rate is trading higher for a second straight session. The pair trades +0.2% at US$1.1860.

The Euro is seeing follow through demand after the Bank of France upwardly revised its full year GDP to -8.7%, saying that the Q2 wasn’t as bad as initially feared. German ZEW sentiment data is in focus.

The US Dollar is trading on the back foot on safe haven outflows. Vaccine optimism, deal making on Wall Street and upbeat Chinese data are lifting sentiment, boosting demand for riskier assets and currencies.