The Pound Euro (GBP/EUR) exchange rate is building on yesterday’s gains, trading +0.05% at €1.1165.
The Pound has been lifted in recent sessions by Brexit and vaccine optimism. Reports suggest that a Brexit trade deal could be agreed as soon as next Monday or Tuesday.
UK inflation is in focus today. Analysts expect disinflation of -0.1% sharply down from +0.4% increase in September.
The Euro has traded mixed versus major peers. Growing expectations that the ECB will ease monetary policy further in the December meeting is keeping any gains in the Euro capped.
Eurozone inflation is expected to show +0.1% increase MoM in October, in-line with September.