GBP/EUR: Pound Flat vs. Euro Following BoE & ECB

The Pound Euro (GBP/EUR) exchange rate is holding steady, consolidating after strong gains in the previous week.

All eyes are looking towards the Prime Minister Boris Johnson’s speech today in which he will set out the path for reopening the British economy. The quicker the economy reopens, the quicker it can rebound to pre-pandemic growth levels.

Over 17.5 million first covid dose vaccinations have now been administered in Britain. New daily cases and deaths have dropped dramatically.

The covid outlook in the Eurozone is less optimistic amid a slow vaccine rollout, although this is starting to change.

German IFO business sentiment index could offer further insight into outlook for the region.