The Pound Euro (GBP/EUR) exchange rate is inching lower for a third consecutive day
The Pound closed lower on Wednesday, but off session lows after a dismal outlook and surging spending from the British Chancellor Rishi Sunak.
The UK economy is expected to contract -11.3% in 2020 according to the OBR, whilst public sector borrowing will hit £400 billion to help cushion the UK economy from the pandemic hit. This will be the largest budget deficit in peacetime ever in the UK.
The Euro was supported by news that France is easing lockdown restrictions.
Attention will now turn to German consumer confidence data and the release of the minutes from the latest ECB meeting.
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