GBP/EUR: Brexit Nerves Weigh On Pound

The Pound Euro (GBP/EUR) is trading at €1.1170 after closing the previous week over 1% higher.

Brexit euphoria lifted the Pound last week. However, this is being overshadowed by rising covid cases and fears of a third national lockdown. As new daily covid infections remain over 50,000 for a fifth straight day, UK Prime Minister Boris Johnson warns that restrictions could get tougher.

Boris Johnson is expected to take a decision today as to whether or not to put the UK back under a national lockdown.

The UK manufacturing PMI is due to be released, as is the Eurozone manufacturing sector PMI. Both are expected to show that the sectors remain resilient in expansionary territory despite rising covid cases.