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

Monday’s sell off in the Pound has stabilized and the Pound Euro (GBP/EUR) exchange rate is edging a few pipis higher at €1.1080.

The Pound dropped sharply after UK Prime Minister Boris Johnson plunged England back into lockdown. All schools and non -essential retail will remain closed until late February with an easing of restrictions conditional on the successful rollout of the covid vaccine.

The Euro is supported by weak demand for the US Dollar ahead of the Georgia Senate runoff later today.

German retail sales and unemployment data headline the economic calendar.