The Pound Euro (GBP/EUR) exchange rate is trading slightly on the back foot as Tuesday kicks off, after finishing the previous session approximately flat. The pair trades just sub €1.11.
The Pound is mildly under pressure as the UK heads towards lockdown on Thursday. Expectations are also picking up that the Bank of England will announce additional monetary easing on the same day.
The Euro is showing some resilience despite soaring covid number as its two largest economies go back into lockdown.
Manufacturing PMI data had shown that German factories were booming. This is likely change as this month as Germany heads back into lockdown.