GBP/EUR: Brexit Extension & EU Trade Tariffs In Focus

The Pound Euro exchange rate is tumbling lower at the start of the week trading at €1.0955.

The Pound is being driven by covid developments and Brexit.

Parts of the UK including London has been plunged into Tier 4 lockdown, whilst many countries in Europe are no longer receiving flights from the UK owing to the discovery of a new mutant covid strain which is 70% more infectious.

The Euro has shown resilience despite less than impressive macros data & surging covid cases.

Attention will now turn to Eurozone consumer confidence which is expected to hold steady at -17.6, the same level in November.