The Pound Euro (GBP/EUR) exchange rate is building on gains for a 6th consecutive session, trading at €1.1220, slightly off yesterday’s 2 month high of €1.1259.
The Pound has been well supported this week by fading speculation surrounding negative interest rates.
New daily covid cases are starting to fall slowly although deaths remain at a record high. UK Prime Minister Boris Johnson is considering tightening lockdown restrictions further and accelerating the vaccine programme to 24 /7.
The Euro is under pressure despite strong Eurozone industrial production data, which expanded for the 7th straight month.
German GDP will be closely eyed. Expectations are for -5.1% contraction in 2020.