GBP/EUR: Brexit Extension & EU Trade Tariffs In Focus

The Pound Euro (GBP/EUR) exchange rate continues to gain altitude for a sixth straight session. The pair trades over €1.10 at €1.1015.

The Pound is rallying on Brexit optimism. It has been reported in the Times newspaper than the EU will signal that they are ready to work on the legal text of a trade deal agreement.

The BoE’s Deputy Governor Ramsden also pushed back on the idea of using negative interest rates in the UK as a tool to support the economy.

The Euro is under pressure across the board amid rising covid cases and fears of further lockdowns. Consumer confidence data is in focus.