The Pound Euro exchange rate (GBP/EUR) is falling back through €1.1250 after reaching a high of €1.1267 overnight.
The Pound is edging higher ahead of the UK unemployment data. Expectations are for the unemployment rate to push over 5% for the first time in almost 5 years. The claimant count is expected to rise to 7.5% as the economic fallout from covid restrictions continue.
The Euro was under pressure in the previous session following weaker than expected German IFO business sentiment data as rising covid cases and tighter lockdown restrictions dampened confidence.
There is no high impacting data due today so covid developments and vaccine news could drive the Euro.