The Pound Euro (GBP/EUR) exchange rate is extending losses for a second day, down -0.1% at €1.1380.
Post Brexit trade friction drags on the Pound as tension between the UK and Brussels rose following Brussels’ rejection of most of the government’s demands for easier trade in Northern Ireland.
Attention is now firmly on UK Q4 GDP which is expected to show +0.5% QoQ growth despite a second national lockdown and tier restrictions across the quarter.
The Euro drifted higher in the previous session despite few drivers. Euro strength appeared to be more of a US Dollar weakness story rather than owing to a fundamental improvement in the EU outlook.
There is no high impacting Eurozone data today.