GBP/EUR Pound Falls Marginally But Remains Strong Over-All Versus Euro

The Pound Euro exchange rate is building on gains for a seventh straight session. The pair is on track to gain over 1.5% across the week.

The Pound has found support this week as the prospect of negative interest rates eased and on reports that the government will ramp up the covid vaccination programme to 500,000 jabs a day.

UK GDP data for November, the second lockdown will be closely eyed. Expectations are for -12.1% contraction year on year.

The Euro came under pressure after the minutes to the latest ECB meeting highlighted concerns over the exchange rate and low inflation across the block.

Eurozone trade balance will be in focus.