The Pound Euro exchange rate is heading lower on the final trading day of the week -0.2% at €1.1050. The pair is set for weekly losses of around 0.5%
The Euro has been under pressure all week as covid cases surge and France & Germany impose another national lockdown. The ECB kept interest rates on hold but will ease monetary policy in December.
Eurozone GDP is in focus. Analysts are expecting a record breaking 9.4% QoQ GDP growth after a record -breaking contraction in Q2.
The Pound is now coming under increasing pressure as expectations are growing that large parts of the UK, including London will move back into Tier 3 lockdown.