The Pound Euro (GBP/EUR) exchange rate is extending gains from the previous week.

The UK economy will reopen on 2nd December as the current lockdown ends, confirmed the British government.

UK PMIs are expected to weaken this month reflecting the lockdown conditions in the UK since 5th November.

Brexit and Chancellor Rishi Sunak’s spending review will be in focus this week.

The Euro is broadly under pressure as a second wave of covid sweeps across Europe and as the ECB are expected to ease monetary policy in December.

Eurozone PMIs are expected to reveal a marked deterioration in business activity in November.