The Pound Euro (GBP/EUR) exchange rate is extending gains on Tuesday. The pair trades +0.04% at €1.1061.
The UK Prime Minister Boris Johnson announced a new tiered system for lockdown restrictions. Merseyside in at the highest level of alert. Covid concerns could cap the upside.
UK labour market data is in focus, with unemployment expected to increase just slightly to 4.3% in the three months to August, up from 4.1%. The government’s furlough scheme is still masking the real impact of covid on the labour market.
The Euro has been under pressure as a second wave of coronvirus infections hit the old continent, with tighter restrictions expected.
German inflation and ZEW sentiment data in focus.
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