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

The Pound Euro (GBP/EUR) exchange rate is edging a few points lower on Monday, consolidating gains from the previous week.

Whilst covid numbers remain elevated in the UK, the covid vaccine rollout is accelerating. Expectations are rising that UK lockdown conditions a will start ease in March. The government says it is still on track to inoculate 15 million of the most vulnerable people by then.

The Euro remains under pressure on he back of USD strength and as Pfizer’s covid vaccine runs into distributions problems in Europe.

Looking ahead the ECB rate decision will be in focus later in the week.