GBP/EUR: Pound Heads Higher As EU To Mull Over Brexit Extension

The Pound Euro exchange rate is ticking a few points lower in early trade on Wednesday, steadying at €1.1030.

Brexit continues to drag on demand for the Pound. As the clock ticks, talks remain deadlocked over the same key issues that have kept talks deadlocked for months, fishing waters, governance and the level playing field.

Boris Johnson will fly to Brussels this evening for last ditch talks with EC President Ursula von der Leyen.

The Euro remains resilient even as data is mixed. Yesterday the Q3 GDP for the bloc was downwardly revised. Although the forward looking German ZEW economic sentiment gauge was significantly better than expected.

German trade data is in focus. Exports are expected to slip whilst imports rise.