GBP/EUR: Pound Holding Firm vs. Euro After EU Leaders Sign Off Brexit

The Pound Euro (GBP/EUR) exchange rate holds most of the 1% bounce from the previous session.

The latest Brexit headlines hint towards a deal being achievable. Michael Martin the Irish Prime Minister sounded noticeably more optimistic. Whilst there are still issues to be resolved the Pound firmed on the fact that things were moving in the right direction.

UK inflation & PMI data will likely play second fiddle to Brexit headlines.

The Euro trades mixed versus major peers, supported by a softer tone surrounding the USD. Common currency well supported despite more lockdown restrictions across the bloc.

EZ PMI data is expected to show that the service sector remains in deep contraction owing to the lockdown measures.