The Pound Euro (GBP/EUR) exchange rate is trending lower on Tuesday, extending losses from the previous session.

The UK has told the EU that is sees no point in continuing trade talks, unless the EU has a fundamentally different approach to negotiations. The UK appears to be heading for a no trade deal Brexit.

Wales has announced a two-week circuit breaker lockdown to stem the spread of covid. A move which will have negative economic consequences.

The Euro has benefitted from a no news is good news day. Covid cases continue to surge on the continent.

German PPI and Eurozone current account data are in focus.