GBP/EUR: Pound Hits Weekly High vs Euro On Brexit Deal Hopes

The Pound Euro (GBP/EUR) exchange rate trades +0.1% higher at €1.1155, building on gains from last week.

Brexit talks are in full focus as talks begin again in Brussels and as both British and Irish ministers say that difference must be resolved this week in order for a trade deal to be agreed. Failure to do so could see the UK suffer an economic shock as it attempts to deal with the fallout from covid.

The Euro was out of favour at the end last week after Q3 GDP was revised lower to 12.6%.

ECB commentary this week could keep the Euro under pressure as he central bank hints to further monetary easing in December.