GBP/EUR: Brexit Nerves Weigh On Pound

The Pound Euro (GBP/EUR) exchange rate is edging higher after a flat finish on Wednesday.

The UK economy held up better than expected in the first quarter contracting by -1.5% QoQ, ahead of the -1.7% contraction forecast ad the pandemic & Brexit hit growth.

The monthly GDP for March also surged 2.1% higher as businesses prepared for lock down restrictions to ease. The data indicates that the UK economy is picking up momentum.

The Euro had its fair share of good news yesterday too after the European Commission upwardly revised its growth outlook for the region to 4.3%.

There is no high impacting data from either the UK or the Eurozone today so covid developments are likely to be eyed carefully.