Will UK GDP & Brexit Woes Pull The Pound Lower vs. Euro?

The Pound Euro exchange rate is paring yesterday’s losses. The pair trades +0.15% at €1.1145.

Brexit is the clear and central focus for the Pound. Boris Johnson reiterated that he believed that the UK could prosper under such circumstances. However David Frost indicated that a deal could be ready early next week.

The Euro remains supported by risk on trading following the announcement by Moderna that its vaccine is 94.5% effective. The news came one week after Pfizer announced that its vaccine was 90% effective. With light at the end of the covid tunnel the safe haven US Dollar dropped boosting the Euro higher.