GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro (GBP/EUR) exchange rate is holding steady after advancing in the previous session. The pair trades at €1.0908.

All attention is on Chancellor Rishi Sunak who is expected to announce a Winter economic plan to help see the UK through the coming months amid the worsening coronavirus crisis.

The Euro was under pressure after data revealed that the resurgence of coronavirus is impacting the economic recovery, particularly in the service sector, which unexpectedly contracted.

German IFO sentiment data is in focus this morning. Expectations are for a slight uptick in sentiment.