GBP/EUR: Pound Shakey vs. Euro Ahead of Brexit Bill Debate

The Pound Euro (GBP/EUR) exchange rate is ticking higher in earlier trade, building on gains from the previous session.

The Pound found support in the previous session from upbeat Brexit reports. News of progress boosted optimism that a deal could be achieved.

Attention will now turn to the UK labour market data. The unemployment rate is expected to hit 4.8% in the three months to September despite Chancellor Rishi Sunak’s best efforts to keep unemployment levels low.

Claimants are expected to surge by 50,000.

The Euro trended lower owing to a stronger US Dollar on Monday following Pfizer’s vaccine news. All eyes on the German ZEW sentiment data release, which is expected to fall as covid cases surge,