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

The Pound Euro (GBP/EUR) exchange rate is holding steady consolidating recent gains at €1.1560 for a second straight session.

British PM Boris Johnson set out the four stage road map to reopening the UK economy as covid  new daily infection fall to 10,000 new infections per day.

Attention will now turn to the UK unemployment rate which is expected to tick over 5% for the first time since the Brexit referendum in 2016.

The Euro was well supported by upbeat German business sentiment data, despite the ongoing lockdown.

Today investors will cast their attention towards Eurozone inflation data, which is expected to confirm the initial reading for January of -0.2% MoM.