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

The Pound Euro (GBP/EUR) exchange rate is advancing on Tuesday, extending gains from the previous session.

Confidence in the Pound remains strong thanks to optimism surrounding the UK’s covid recovery outlook. As the vaccine programme continues to accelerate, the number of covid cases and deaths have declined significantly.

The UK will reopen all shops, hairdressers and outside hospitality next Monday. With no data due to be released today, sentiment is set to drive movement in the Pound.

The Euro is out of favour amid rising covid cases and after France announce that it was heading back into lockdown last week.

Today Eurozone unemployment numbers will be in focus.