GBP/EUR: Pound Targets €1.16 On Euro Weakness

The Pound Euro (GBP/EUR) exchange rate is holding steady at the start of the new week at €1.1691.

The UK takes another step along the re-opening path today with groups of six allowed to meet outside. The move comes as the number of new covid cases falls to a third in a week and the number of deaths drops by 42% across 7 days to 19.

There is no high impacting data due to be released. House process data and UK business investment figures could attract some attention.

The Euro has broadly been less appealing as the economic outlook is less optimistic. With a third covid wave hitting the region and a slow vaccine programme, any economic recovery is being pushed back.