The Pound Euro (GBP/EUR) exchange rate is finding its feet after tanking over 1% in the previous session.

The UK recorded a 38% jump in new covid cases compared to last week. New infections topped 33,000 a record high.

The data comes as the UK continues in its second lockdown and after GDP data showed that growth was losing momentum even before the second lockdown.

Brexit uncertainties continue to weigh on demand as a soft deadline is pushed into next week.

The Euro benefited from a weak US Dollar on Wednesday. Attention will now turn to Eurozone Q3 GDP reading, which is expected to confirm 12.7% GDP growth in July – September period.