GBP/EUR: Will Eurozone GDP Data Pull Euro Lower?

The Pound Euro (GBP/EUR) exchange rate is holding steady at €1.15 for a third day.

Whilst the Pound is supported by reopening optimism and encouraging covid numbers, it is being undermined by political tensions within the isle.

The Irish First Minister is to step down over discontent within her own party over the handling of Brexit. Fears are also rising over another Scottish vote of independence. With Scottish elections next week this will remain a key theme.

The Euro is also dealing with conflicting focus. Whilst worse than forecast German consumer confidence dragged on the Euro, a falling US Dollar is offering support.

Eurozone economic sentiment data and German inflation numbers are up next.